InterContinental Hotels Group reported 16% adjusted earnings per share growth for 2025, reaching 501.3 cents, but faced headwinds in its Americas region where revenue per available room fell 2% in the fourth quarter. The London-listed hotel operator opened a record 443 hotels during the year while navigating softer U.S. government and international inbound travel.

Despite the Americas slowdown, IHG's fee margin expanded 3.6 percentage points to 64.8%, driven by operating leverage and cost efficiencies from its global efficiency program. The company approved a new $950 million share buyback program for 2026 following a $900 million buyback completed in 2025, and increased its full-year dividend 10% to 184.5 cents per share.

Regional performance showed stark contrasts, with Europe, Middle East, Africa and Asia growing RevPAR 4.6% for the full year. IHG's global estate reached 6,963 hotels with 1,026 million rooms, and the company maintained its medium to long-term target of 12-15% compound annual growth in adjusted EPS. The Americas weakness, particularly the 2% fourth-quarter decline, signals potential challenges in the U.S. hotel market despite overall strong financial performance.