Mission Statement, Vision, & Core Values (2024) of InterContinental Hotels Group PLC (IHG)

An Overview of InterContinental Hotels Group PLC (IHG)

General Summary of InterContinental Hotels Group PLC

InterContinental Hotels Group PLC (IHG) is a British multinational hospitality company that operates several hotel brands. Founded in 2003, IHG has its roots back to the InterContinental hotel brand established in 1946. The company offers a diversified portfolio that includes luxury, upscale, and midscale properties, catering to a wide range of customer needs. Key brands include InterContinental, Crowne Plaza, Holiday Inn, and Staybridge Suites.

As of 2024, IHG operates more than 6,000 hotels across 100 countries, providing over 883,000 guest rooms. In the latest financial year, IHG reported a total sales revenue of approximately $4.2 billion.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the year ended December 31, 2023, IHG demonstrated robust financial performance, achieving record-breaking revenues. The company reported total revenue of $5.2 billion, a significant increase from the previous year due to a strong recovery in the travel sector and increased consumer demand.

The breakdown of revenue sources is as follows:

Additionally, IHG saw significant growth in key markets:

• Americas: Revenue growth of 20%
• Europe: Revenue growth of 15%
• Asia & Middle East: Revenue growth of 10%

Operating profit for the year reached $1.1 billion, with an operating margin of 21%.

Introduction to Company as One of the Leading Companies in Its Industry

InterContinental Hotels Group PLC is recognized as one of the leading companies in the global hospitality industry. Its strategic focus on brand development, an extensive loyalty program, and digital innovation has positioned it favorably against competitors. IHG's commitment to sustainability and corporate social responsibility underlines its reputation as an industry leader.

In 2023, IHG was listed in the top 10 hotel companies worldwide based on total revenue and number of properties. Furthermore, the company continues to prioritize expanding its footprint, with plans to open an estimated 200 new hotels by 2024.

For more detailed insights into why IHG remains successful in its endeavors, further exploration is recommended.

Mission Statement of InterContinental Hotels Group PLC (IHG)

Mission Statement of InterContinental Hotels Group PLC (IHG)

InterContinental Hotels Group's mission statement serves as a guiding principle for the company's long-term objectives and operational strategies. The mission is centered on delivering sustainable growth through superior customer service and innovative hotel management, which ultimately shapes the guest experience. This chapter dissects the core components of IHG's mission statement, showcasing how each element contributes to the overall business strategy.

Customer Commitment

At the heart of IHG's mission is a strong commitment to customer satisfaction. This component emphasizes understanding and exceeding customer expectations across its diverse portfolio of brands, which includes InterContinental, Crowne Plaza, and Holiday Inn.

• In 2022, IHG reported a guest satisfaction score of 83%, demonstrating its dedication to providing a high-quality experience.
• Through the IHG Rewards program, the company has amassed over 100 million members globally, reinforcing its focus on customer loyalty.

Quality and Sustainability

The second core component reflects IHG's dedication to maintaining high-quality standards and sustainable practices. The company prioritizes responsible business practices that positively impact its stakeholders and the environment.

• IHG has pledged to reduce its carbon footprint by 10% by 2025, aligning with a broader commitment to sustainability.
• In 2021, IHG achieved a 5% reduction in energy use across its hotel properties, demonstrating progress toward its environmental goals.

Global Expansion and Innovation

The third component of IHG's mission statement focuses on global growth and innovation. This aspect underlines the company's strategy to expand its footprint while leveraging technology and innovation to enhance guest experiences.

• As of 2023, IHG operates over 6,000 hotels across nearly 100 countries, showcasing its extensive global presence.
• The company has invested over $300 million in technology to improve operational efficiency and customer engagement.

Vision Statement of InterContinental Hotels Group PLC (IHG)

Global Presence and Scale

As of 2024, IHG operates in over 100 countries with more than 6,000 hotels and over 883,000 guest rooms worldwide. The company has a diverse portfolio of brands catering to various segments of the market, including luxury, upscale, and midscale accommodations.

Commitment to Sustainability

In 2024, IHG is focused on enhancing its sustainability initiatives, aiming to reduce carbon emissions by 50% by 2030. The company has committed to sourcing 100% of its energy from renewable sources by 2025.

• Reduction of carbon footprint by 50% by 2030
• 100% renewable energy sourcing by 2025
• Reduction in water usage by 25% per occupied room by 2030

Customer-Centric Approach

IHG's vision emphasizes a customer-first strategy, with an aim to achieve a Net Promoter Score (NPS) of at least 70 by 2024. The company continually invests in technology to enhance guest experience, including mobile check-in and keyless entry options.

In 2023, IHG reported a 10% increase in customer satisfaction scores, reflecting successful implementations of these strategies.

Diversity and Inclusion

As part of its vision for 2024, IHG has prioritized diversity and inclusion within its workforce. The company aims to achieve a gender parity in leadership roles by 2025. Currently, 40% of IHG's global leadership positions are held by women.

• Current percentage of women in leadership: 40%
• Target for gender parity: 2025
• Investment in diversity training programs: $1 million annually

Financial Performance and Growth

For the fiscal year 2023, IHG reported revenue of $3.2 billion, with a gross operating profit margin of 45%. The company's EBITDA stood at $1.4 billion, reflecting a strong recovery post-pandemic and a commitment to shareholder returns.

Innovative Technology Adoption

In 2024, IHG is committed to investing over $100 million in digital transformation initiatives. This includes enhancements in its mobile app, guest communication systems, and data analytics capabilities to optimize operational efficiency and guest experience.

• Investment in digital transformation: $100 million
• Enhancements in mobile app features launched: 10 new features
• Data analytics improvements for operational efficiency: 30% increase in effectiveness

Core Values of InterContinental Hotels Group PLC (IHG)

Integrity

Integrity is vital to the operational ethos of InterContinental Hotels Group PLC (IHG). It establishes the foundation of trust in relationships with guests, employees, and stakeholders. Integrity ensures that IHG conducts business with honesty, transparency, and accountability.

In 2022, IHG reported a commitment to ethical business practices, which resulted in a 20% reduction in complaints related to unethical practices compared to 2021. Additionally, IHG's Code of Conduct mandates that all employees complete annual compliance training, with a 95% completion rate registered in 2023.

Service

Service reflects IHG's commitment to providing exceptional guest experiences, aiming to exceed expectations at every interaction. This core value drives the company to enhance customer satisfaction and loyalty.

In 2023, IHG achieved a guest satisfaction score of 87%, up from 83% in 2022. The IHG Rewards program engaged over 100 million members, contributing to multiple service-related enhancements across properties. Furthermore, IHG launched the “True Hospitality” training program that trained over 50,000 staff to deliver personalized service.

Respect

Respect is fundamental in IHG's approach to its employees and the communities in which it operates. This value promotes diversity, equity, and inclusion throughout the organization.

As of 2024, IHG has achieved a workforce representation of 48% women across management positions, an increase from 45% in 2022. The company also actively engages in community development initiatives, contributing over $10 million to local charities globally in the past year.

Excellence

Excellence drives IHG to continuously improve and innovate in every aspect of its operations. By prioritizing quality and performance, IHG strives to maintain its position as a leader in the hospitality industry.

In 2023, IHG invested $350 million in upgrading hotel facilities and technology enhancements, resulting in a 15% increase in operational efficiency. The company’s hotels have consistently received high ratings, with over 70 properties rated five stars on TripAdvisor as of early 2024.

Teamwork

Teamwork fosters collaboration among employees, creating a culture that values collective effort and mutual support. This core value is essential for achieving strategic goals and enhancing organizational performance.

As of 2023, IHG launched a global employee engagement platform, resulting in a 10% increase in employee satisfaction scores. The company's annual employee survey revealed that 87% of employees feel valued for their contributions, an increase from 81% in 2022.