Intercontinental Hotels: UBS still a seller

(CercleFinance.com) - Following the announcement of its Q3 2018 results, UBS confirms its Sell rating on the Intercontinental Hotels share, along with its target price of 4000 pence.


While third quarter results are slightly lower than expected, the special dividend will probably be warmly welcomed by the market, the broker said.

The group announced RevPAR that is up 1% in Q3 2018. This benefited from a 1.7% price increase, while the occupancy rate is down 0.7 pt.

This figure is below consensus at +2.9%. There has been a significant slowdown compared to H1 2018 at +3.7%. The group had 267,000 rooms in Q3, up 2% compared to H1.



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