InterContinental Hotels Group PLC Impact of US Tax Cuts and Jobs Act Bill (0376A)
December 21 2017 - 2:00AM
UK Regulatory
TIDMIHG
RNS Number : 0376A
InterContinental Hotels Group PLC
21 December 2017
21 December, 2017
InterContinental Hotels Group PLC
Impact of US Tax Cuts and Jobs Act Bill1
This announcement contains inside information.
InterContinental Hotels Group ("IHG") [LON:IHG, NYSE:IHG (ADRs)]
notes the passage of the US Tax Cuts and Job Acts Bill1 ("the
bill") yesterday.
Initial estimates are that, as a whole, the enacted bill will
reduce IHG's group effective tax rate by mid to high single digit
percentage points from 1 January 2018. In 2017, IHG's group
effective tax rate is still expected to be in the low 30s.
It is also expected that the measures outlined in the bill will
result in a significant, exceptional tax credit in the financial
year the bill is signed into law, which would be realised in cash
terms over a long period from 2018.
Any updates will be provided at IHG's 2017 Preliminary Results
on 20 February 2018.
___________________________________
1 H.R. 1, "An Act to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for
fiscal year 2018"
For further information
Investor relations (Catherine Dolton): +44 (0)7808 095597
Media relations (Yasmin Diamond; Zoe Bird): +44 (0)7736 746167
Notes to Editors:
IHG(R) (InterContinental Hotels Group) [LON:IHG, NYSE:IHG
(ADRs)] is a global organisation with a broad portfolio of hotel
brands, including InterContinental(R) Hotels & Resorts,
Kimpton(R) Hotels & Restaurants, Hotel Indigo(R), EVEN(R)
Hotels, HUALUXE(R) Hotels and Resorts, Crowne Plaza(R) Hotels &
Resorts, Holiday Inn(R), Holiday Inn Express(R), Holiday Inn Club
Vacations(R), Holiday Inn Resort(R), avid(TM) hotels, Staybridge
Suites(R) and Candlewood Suites(R).
IHG franchises, leases, manages or owns nearly 5,300 hotels and
more than 785,000 guest rooms in almost 100 countries, with more
than 1,500 hotels in its development pipeline. IHG also manages
IHG(R) Rewards Club, our global loyalty programme, which has more
than 100 million enrolled members.
InterContinental Hotels Group PLC is the Group's holding company
and is incorporated in Great Britain and registered in England and
Wales. More than 350,000 people work across IHG's hotels and
corporate offices globally.
Visit www.ihg.com for hotel information and reservations and
www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest
news, visit: www.ihgplc.com/media and follow us on social media at:
www.twitter.com/ihg, www.facebook.com/ihg and
www.youtube.com/ihgplc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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