Latest news with #InterContinentalHotels
Globe and Mail
08-08-2025
- Business
- Globe and Mail
UnionPay International Launches Exclusive Promotion with InterContinental Hotels Group for Global Visitors to China
SHANGHAI , Aug. 8, 2025 /CNW/ -- UnionPay International ("UPI" or "the Company"), a global leader in payment solutions, has announced an exclusive promotion in partnership with InterContinental Hotels Group (IHG) offering an instant discount of up to 15% in China for global UnionPay credit cardholders. A total of over 500 designated hotels in Chinese mainland that support UnionPay online payment are included in the offer, aimed at enhancing the travel payment experience for international UnionPay cardholders. InterContinental Hotels Group (IHG) is a globally leading international hotel management company with over 20 hotel brands. Its luxury and lifestyle hotel brands participating in this promotion include Six Senses Hotels, Resorts & Spas, Regent Hotels & Resorts, Kimpton Hotels & Restaurants, InterContinental Hotels & Resorts, Vignette Collection, and Hotel Indigo. Premium hotel brands include Crowne Plaza Hotels & Resorts, HUALUXE Hotels & Resorts, EVEN Hotels, and voco hotels. Mid-to-upscale brands include Holiday Inn and Holiday Inn Express. In Chinese mainland IHG operates over 800 hotels, with more than 530 now supporting UnionPay online payments and participating in this promotion. Between June 10 and October 31, 2025 , cardholders using UnionPay credit cards issued outside Chinese mainland can enjoy instant hotel discounts when booking eligible properties in Chinese mainland through the official InterContinental Hotels website or IHG One Rewards Mobile App, where UnionPay online payment is accepted at the checkout. Customers using UnionPay credit cards issued in South Korea or UnionPay SplendorPlus Credit Cards will receive 15% off, up to 400 RMB . Those using other UnionPay credit cards issued overseas will receive 10% off, up to 200 RMB . UnionPay's extensive network ensures wide coverage in China , with near-universal acceptance at ATMs and mainstream merchants. More than 200 million UnionPay cards have been issued in 83 countries and regions outside the Chinese mainland, allowing international visitors to benefit from real-time currency conversion without excessive fees. Many popular mobile wallets abroad support UnionPay QR codes, enabling hassle-free in-store payments—no additional apps required. Travelers can also link their overseas-issued UnionPay cards to Alipay or WeChat Pay, enjoying promotional discounts with zero extra fees. As part of its continued development, UnionPay introduced SplendorPlus, a new card product tailored to international visitors to China last year. The SplendorPlus card comes with a suite of core benefits, including domestic airport privileges, access to popular tourist attractions, cultural and artistic experiences, local culinary perks, and 1% cashback on spending in Chinese mainland. To date, UnionPay International has partnered with 56 institutions across 20 overseas markets to launch or sign agreements for the SplendorPlus program, covering over 10 million cards. About InterContinental Hotels Group InterContinental Hotels Group (IHG) is a globally leading international hotel management company with over 20 hotel brands, operating more than 6,000 hotels across 110 countries and regions. Its luxury and lifestyle hotel brands include Six Senses Hotels, Resorts & Spas, Regent Hotels & Resorts, Kimpton Hotels & Restaurants, InterContinental Hotels & Resorts, Vignette Collection, and Hotel Indigo. Premium hotel brands include Crowne Plaza Hotels & Resorts, HUALUXE Hotels & Resorts, EVEN Hotels, and voco hotels. Mid-to-upscale brands include Holiday Inn and Holiday Inn Express. In Chinese mainland, IHG operates over 800 hotels, with more than 500 hotels now supporting UnionPay online payments and participating in the above promotion. About UnionPay International UnionPay International (UPI) is focused on the growth and support of UnionPay's global business. Working with over 2,600 partners worldwide, UPI enables card acceptance in 183 countries and regions with issuance in 84 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world's largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
Reuters
08-05-2025
- Business
- Reuters
InterContinental Hotel reiterates annual profit estimates, defying industry trend
May 8 (Reuters) - Holiday Inn owner InterContinental Hotels Group (IHG) (IHG.L), opens new tab said on Thursday it is on track to meet the full-year consensus profit estimate, defying industry peers' forecast warnings over waning economic and consumer sentiment in the U.S. The United States, the IHG's largest market, faces heightened recession risks due to a global trade war sparked by President Donald Trump's tariffs, which have prompted travel companies to caution about stalling demand. Analysts expect IHG to report adjusted EBITDA of 1.32 billion pounds ($1.75 billion) for the fiscal year 2025. The group also reported a 3.3% jump in global revenue per available room (RevPAR) for the first quarter, up from last year's 2.6% growth. ($1 = 0.7522 pounds)
Yahoo
18-02-2025
- Business
- Yahoo
FTSE 100 Live 18 February: Wage growth accelerates, InterContinental buys Ruby chain
08:25 , Graeme Evans BT Group shares are down 4% during a lacklustre session for the FTSE 100 index. The telco's reverse of 7.4p to 144.15p was accompanied by a decline of 5.1p to 137.9p for Airtel Africa. InterContinental Hotels dropped 170p to 10,525p, despite announcing a $900 million buy back of shares alongside annual results. Others under pressure included Tesco, which weakened 2% or 7.3p to 389.7p. The FTSE 100 index stood 5.09 points higher at 8773.10, led by NatWest and Barclays after their shares lifted by about 1%. 08:08 , Graeme Evans BHP has cut its interim dividend by 31% to 50 US cents a share, reflecting the impact of lower iron ore and steelmaking coal prices. The award, which is equivalent to 50% of earnings, follows a 23% drop in underlying profit to $5.1 billion in the six months to the end of last year. Revenues fell 8% to $25.2 billion, despite increased sales volumes in key commodities of copper, iron ore and steelmaking coal. The latest dividend award is worth $2.5 billion and means BHP will have returned about $50 billion to shareholders since the start of 2021. Chief executive Mike Henry said demand for BHP products remains strong despite global economic and trade uncertainties. He highlighted early signs of recovery in China, resilient economic performance in the US and strong growth in India. Henry added: 'The trajectory of the world population growing from eight billion today to 10 billion in 2050, with more people living in cities, together with the energy transition and the growth of data centres and AI, will compound the need for more metals and minerals. 'Against this backdrop, BHP is well-positioned, with the ability to leverage our strong balance sheet, technical know-how and sustainable business practices to deliver growth and resilient shareholder returns.' BHP's London-listed shares fell 14p to 2074p. 07:46 , Graeme Evans The pound has climbed above $1.26 amid signs that today's labour market figures have done little to alter the Bank of England's gradual approach to rate cuts. The Office for National Statistics said average base pay excluding bonuses rose by an annual rate of 5.9%, up from 5.6% in the previous quarter. That means workers' real buying power, after taking inflation into account, rose by 2.5%, the fastest rate for four years. Bank of England rate setters will be worried that persistent wage inflation will feed into shop prices and keep inflation above the 2% target for longer. Read more here 07:29 , Graeme Evans InterContinental Hotels, whose brands include Holiday Inn Express and Crowne Plaza, today unveiled the acquisition of European city centre chain Ruby. The addition of its 20th brand was announced alongside annual results showing a 10% rise in operating profit to $1.12 billion (£890 million) for 2024. Revenue per available room grew by 3% in the year, boosted by an acceleration to 4.6% in the fourth quarter. IHG has over 6,600 hotels in more than 100 countries, with a development pipeline of over 2,200 properties. Established in 2013, the Ruby brand currently operates 20 hotels or 3,483 rooms including three in London. IHG said it intends to expand the brand in the Americas and Asia. The group also announced a 10% increase in its dividend, alongside the launch of a new $900 million (£719.4 million) buy back of shares. Chief executive Elie Maalouf said: 'We enter 2025 with confidence in further capitalising on our scale, leading positions and the attractive long-term demand drivers for our markets.' Read more here 07:07 , Graeme Evans The UK's unemployment rate stayed at 4.4% in the three months to December, which compares with City expectations for a figure of 4.5%. Average earnings including bonuses increased by a bigger-than-expected 6% on a year earlier, up from the previous month's 5.5%. Excluding bonuses, the wage growth figure was in line with forecasts at 5.9%. Read more here 07:01 , Graeme Evans The FTSE 100 index last night closed 35.55 points or 0.4% higher at 8,768.01, a performance boosted by a rise of 9% for BAE Systems. With no handover from US markets due to Presidents Day, London's top flight is forecast to open broadly unchanged this morning. Asia markets have seen mixed trading, with the Shanghai Composite down by 1% and the Hang Seng index up 0.7%. Earlier today, Australia's central bank cut interest rates for the first time since November 2020 with a quarter point reduction to 4.1%. The pound stood at just below $1.26 ahead of today's labour market figures.
