IHG Hotels & Resorts

IHG (InterContinental Hotels Group) puts its brands, such as Holiday Inn Express, Crowne Plaza and InterContinental, on about 7,000 hotels it mostly does not own: 73% of its rooms are franchised and 27% managed, and it owns or leases just 17 hotels. Owners pay IHG a fixed percentage of rooms revenue (franchise) or of total hotel revenue plus a share of profit (management), and pay into a System Fund that runs marketing, reservations and the IHG One Rewards program with over 160 million members. FY2025 (year to Dec 31, 2025) revenue was $5.19B (+5.4%), of which only $1.90B was IHG's own fee business, with a fee margin of 64.8%, and FY2025 net income was $759M (+20.9%). Hotels in its system took in $35.2B, so IHG earns its fees on other people's buildings.

Click any of the 9 blocks below for a plain-language story of how that part of the model works for IHG — and how it connects to the others.