INTERCONTINENTAL HOTELS GROUP PLC /NEW/

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2025 · Filed Feb 26, 2026

Use the contents to explore the available documents and sections.

IHG$178.75+1.8%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

Form 20-F cross-reference guide

The table below references information in this document that will be included in the Company’s Annual Report on Form 20-F

for 2025 filed with the SEC.

Item · Form 20-F caption · Location in this document · Page
1		Identity of Directors, senior management and advisers		Not applicable		–
2		Offer statistics and expected timetable		Not applicable		–
3		Key information
	3A – Selected financial data		Shareholder information: Dividend history		286
	3B – Capitalisation and indebtedness		Not applicable		–
	3C – Reason for the offer and use of proceeds		Not applicable		–
	3D – Risk factors		Group information: Risk factors		264–271
4		Information on the Company
	4A – History and development of the Company		Group information: History and developments		264
		Shareholder information: Return of funds		285
		Useful information: Contacts		302
	4B – Business overview		Strategic Report		4–114
		Group information: Working Time Regulations 1998		277
		Group Information: Risk factors		264–271
		Directors’ Report: Business relationships with suppliers, customers and others		262
	4C – Organisational structure		Strategic Report: Our culture		56–61
		Group Financial Statements: Note 32 – Group companies		237–240
		Group Information: History and developments		264
	4D – Property, plant and equipment		Strategic Report: Key performance indicators		40–43
		Strategic Report: Greenhouse gas (GHG) emissions		82–83
		Group Financial Statements: Note 12 – Property, plant and equipment		210
4A		Unresolved staff comments		None		–
5		Operating and financial review and prospects
		5A – Operating results		Strategic Report: Key performance indicators		40–43
			Strategic Report: Performance		86–112
			Group Financial Statements: Accounting policies		183–194
			Group Financial Statements: New accounting standards		194
			Viability statement		113–114
		5B – Liquidity and capital resources		Strategic Report: Our Business Model – Capital allocation and dividend policy		26–27
			Viability statement		113–114
			Strategic Report: Performance – Sources of liquidity		90
			Group Financial Statements: Note 17 – Cash and cash equivalents		215–216
			Group Financial Statements: Note 21 – Loans and other borrowings		218
			Group Financial Statements: Note 23 – Financial risk management and derivative financial instruments		220–224
			Group Financial Statements: Note 24 – Classification and measurement of financial instruments		224–226
			Group Financial Statements: Note 25 – Reconciliation of (loss)/profit for the year to cash flow from operations before contract acquisition costs		227
			Additional Information: Forward-looking statements		293
		5C – Research and development; intellectual property		Not applicable		–
		5D – Trend information		Strategic Report: Performance		86–112
			Strategic Report: Trends shaping our industry		22–23
		5E – Critical accounting estimates		Group Financial Statements: Critical accounting policies		183, 244

Strategic Report

Governance

Group Financial Statements

Parent Company Financial Statements

Additional Information

Item · Form 20-F caption · Location in this document · Page
5		Non-GAAP financial measures		Strategic Report: Performance		86–112
		Other financial information		250–259
		Group Financial Statements: Note 22 – Net debt		219–220
6		Directors, senior management and employees
	6A – Directors and senior management		Governance: Our Board of Directors and Our Executive Committee (excluding the information under the heading ‘Information on Directors and Executive Committee Members’ on page 121)		118–121
	6B – Compensation		Directors’ Remuneration Report		138–161
		Directors’ Remuneration Policy		148–161
		Group Financial Statements: Note 26 – Retirement benefits		228–230
		Group Financial Statements: Note 30 – Related party disclosures		235
		Group Financial Statements: Note 27 – Share-based payments		231–232
	6C – Board practices		Governance structure and Board activities		122–125
		Executive Directors’ benefits upon termination of office		273
	6D – Employees		Group Financial Statements: Note 4 – Staff costs and Directors’ remuneration		199–200
		Group information: Working Time Regulations 1998		277
		Directors’ Report: Employees and Code of Conduct		261–262
	6E – Share ownership		Directors’ Remuneration Report: Annual Report on Directors’ remuneration – Scheme interests awarded during 2025		151–152
		Directors’ Remuneration Report: Annual Report on Directors’ remuneration – Shares and awards held by Executive Directors at 31 December 2025: number of shares		153
		Group Financial Statements: Note 27 – Share-based payments		231–232
		Group information: Directors’ and Executive Committee members’ shareholdings		273
	6F – Disclosure of a registrant’s action to recover erroneously awarded compensation		Not applicable		–
7		Major shareholders and related party transactions
	7A – Major shareholders		Directors’ Report: Major institutional shareholders		260
		Shareholder information: Shareholder profiles		287
	7B – Related party transactions		Group Financial Statements: Note 14 – Investment in associates and joint ventures		213
		Group Financial Statements: Note 30 – Related party disclosures		235
	7C – Interests of experts and counsel		Not applicable		–
8		Financial Information
	8A – Consolidated statements and other financial information		Directors’ Report: Dividends		260
		Group Financial Statements		176–182
		Group information: Legal proceedings		279
		Other financial information		250–259
	8B – Significant changes		Not applicable		–
9		The offer and listing
	9A – Offer and listing details		Useful information: Trading markets		300
	9B – Plan of distribution		Not applicable		–
	9C – Markets		Useful information: Trading markets		300
	9D – Selling shareholders		Not applicable		–
	9E – Dilution		Not applicable		–
	9F – Expenses of the issue		Not applicable		–
10		Additional information
		10A – Share capital		Not applicable		–
		10B – Memorandum and articles of association		Group information: Articles of Association		275–276
			Group information: Rights attaching to shares		275–276
		10C – Material contracts		Group information: Material contracts		277–278

Form 20-F cross-reference guide continued

Item · Form 20-F caption · Location in this document · Page
10		10D – Exchange controls		Group information: Exchange controls and restrictions on payment of dividends		278
		10E – Taxation		Shareholder information: Taxation		280–282
		10F – Dividends and paying agents		Not applicable		–
		10G – Statement by experts		Not applicable		–
		10H – Documents on display		Useful information: Investor information – Documents on display		300
		10I – Subsidiary information		Not applicable		–
11		Quantitative and qualitative disclosures about market risk		Group Financial Statements: Note 23 – Financial risk management and derivative financial instruments		220–224
12		Description of securities other than equity securities
	12A – Debt securities		Not applicable		–
	12B – Warrants and rights		Not applicable		–
	12C – Other securities		Not applicable		–
	12D – American depositary shares		Group information: Description of securities other than equity securities		274
		Additional Information: Investor information		300
		Additional Information: Contacts		302
13		Defaults, dividend arrearages and delinquencies		Not applicable		–
14		Material modifications to the rights of security holders and use of proceeds		Not applicable		–
15		Controls and procedures		Shareholder information: Disclosure controls and procedures		283
		Statement of Directors’ Responsibilities: Management’s report on internal control over financial reporting		165
		Independent Auditor’s US Report		174–175
16		16A – Audit committee financial expert		Governance: Audit Committee Report		128–133
		Shareholder information: Summary of significant corporate governance differences from NYSE listing standards – Committees		284
	16B – Code of ethics		Directors’ Report: Code of Conduct		262
		Strategic Report: Our culture		56–61
		Shareholder information: Summary of significant corporate governance differences from NYSE listing standards		284
	16C – Principal accountant fees and services		Governance: Audit Committee Report – External auditor		131
		Governance: Audit Committee Report – Non-audit services		130
		Group Financial Statements: Note 5 – Auditor’s remuneration		200
	16D – Exemptions from the listing standards for audit committees		Not applicable		–
	16E – Purchase of equity securities by the issuer and affiliated purchasers		Shareholder information: Purchases of equity securities by the Company and affiliated purchasers		286
	16F – Change in registrant’s certifying accountant		Not applicable		–
	16G – Corporate Governance		Shareholder information: Summary of significant corporate governance differences from NYSE listing standards		284
	16H – Mine safety disclosure		Not applicable		–
	16I – Disclosure regarding foreign jurisdictions that prevent inspections		Not applicable		–
	16J – Insider trading policies		Additional Information: Insider trading policy		283
	16K – Cybersecurity		Additional Information: Cybersecurity		272–273
17		Financial statements		Group Financial StatementsSchedule 1: Parent Company condensed financial information		176–182288–291
18		Financial statements		Group Financial StatementsSchedule 1: Parent Company condensed financial information		176–182288–291
19		Exhibits		Additional Information: Exhibits		292

Strategic Report

Governance

Group Financial Statements

Parent Company Financial Statements

Additional Information

Glossary

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.