IHG records USD 18.2 bn revenue & 4.1% surge in global RevPAR in H1 2026

The group reported 197 hotel openings during the period and recorded adjusted EBITDA of USD 1,392 mn. 

IHG Hotels & Resorts has demonstrated robust financial and operational performance for the first half of 2026, underscored by record development activity and strong trading across key markets. The group reported a 4.1% increase in global RevPAR and a 13% rise in Adjusted EPS, while organic openings and signings both grew by 8%. With 197 hotel openings during the period, IHG remains on track to return over USD 1.2 billion to shareholders this year, supported by a resilient business model and compelling long-term growth drivers.

The Global RevPAR of the group increased by 4.1%, led by a 4.8% growth in the Americas and steady gains in Greater China (+3.1%) and EMEAA (+3.0%). Total gross revenue reached USD 18.2 billion, a 7% increase at constant currency. Expanded to 65.9%, up 120 basis points, as fee business revenue growth of 7% outpaced cost growth. Adjusted EPS of the group rose 13% to 274.7¢, reflecting strong operating profit from reportable segments of USD 665 million. Trailing 12-month Adjusted EBITDA of USD 1,392 million, +11% YOY; net debt:adjusted EBITDA ratio of 2.63x

IHG’s global estate has expanded to 7,109 hotels (approximately 1.05 million rooms), following record-breaking development activity in H1. The group signed 352 hotels (49.2k rooms), bringing its global pipeline to 2,385 hotels (348k rooms)—representing 33% of its current system size. 

Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, said, “Our diverse global footprint and better-than-expected demand in most markets around the world delivered strong RevPAR growth of +4.1% in the first six months of 2026. Trading in the US accelerated in the second quarter, growth in Greater China continued and a good performance elsewhere in our EMEAA region helped offset challenges in the Middle East. This robust revenue growth, combined with an acceleration in net system growth, an efficient cost base driving further margin expansion and the ongoing return of surplus capital to shareholders, delivered adjusted EPS growth of +13%.

He added, “We had record levels of development activity with almost 200 hotel openings in the first half. This drove net system growth of 5% and expanded our global estate to 7,100 hotels. Our pipeline grew to 2,400 hotels with increases in all three regions and 352 signings in total – almost two a day – representing +8% growth year-on-year. We remain on track to meet full year consensus profit and earnings expectations. We are also confident in the successful delivery of our growth algorithm, which is driven by the strength of IHG’s enterprise platform and our ability to further capitalise on our scale, leading positions and the attractive long-term demand drivers for our markets.”