InterContinental Hotels Group PLC (IHG) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 5, 2023 4:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, hello, and welcome to the IHG First Quarter Trading Update to March 31, 2023. My name is Maxine, and I'll be coordinating today's call. [Operator Instructions]

I will now hand you over to Stuart Ford, VP and Head of Investor Relations, to begin. Stuart, please go ahead when you're ready.

Stuart Ford

Thanks, Maxine. So good morning, everyone, and welcome to IHG's call for the first quarter of 2023 trading update.

So, I'm Stuart Ford, Head of Investor Relations at IHG. And I'm joined this morning by Keith Barr, our Group Chief Executive; and Michael Glover, our Chief Financial Officer.

Just to remind listeners on the call that in the discussions today, the company may make certain forward-looking statements as defined under U.S. law. Please do refer to this morning's announcement and the company's SEC filings for factors that could lead actual results to differ materially from those expressed in or implied by any such forward-looking statements.

For those analysts or institutional investors who are listening via our website, can I remind you that in order to ask questions, you will need to dial in using the details on Page 2 of today's RNS release. The release, together with the usual supplementary data pack, can be downloaded from the Results and Presentation section under the Investors tab on ihgplc.com.com.

I'll now hand over the call to Keith.

Keith Barr

Thank you, Stuart, and good morning, everyone.

Before turning to the trading update, I just want to acknowledge the other announcement we have made this morning regarding my stepping down as CEO and the appointment of Elie Maalouf as my successor. It has been an incredible privilege to spend more than 30 years at IHG and be part of the many achievements and successes that the business has had so far.

IHG is a very special company, and to have spent the last six years as CEO has been an owner, as has working alongside our talented colleagues and in partnership with our hotel owners, who all share our passion for hospitality. When I look at the business today, it is set for a very bright future with the breadth of our portfolio, our scale and the strength of our enterprise platform and a clear strategy ahead to grow the business.