Thursday February 27th, 2014 - 10:42AM
DENHAM,UK—IHG released its full-year 2013 annual report and reported a 9% increase in total dividends, as well as a 3.8% gain in overall RevPAR and a 4% growth in fee revenue for the year.
In addition, the company reported operating profit before exceptional items came in at $668 million, which represents a 10% increase from 2012. During 2013, IHG opened 237 hotels and signed an additional 444 properties, its highest number in five years.
The company also bought back $283 million of shares during the year, in addition to the $107 million bought back in 2012, leaving $110 million of its existing $500 million share buyback program to complete.
CEO Richard Solomons noted, “2013 marked IHG’s 10th year as a stand-alone company, and was another year of strong performance.”