InterContinental Hotels has reported, on a non-GAAP basis, a one-third increase in EPS to $3.76 for 2023, as well as a 23% increase in operating profit to $1.02 billion on revenues up 17% to $2.16 billion (+19% on an underlying basis).

The hotel chain boasts strong business, with RevPar (revenue per available room) up 16.1%, driven in particular by China (+71.7%), while its commission margin improved by 3.4 points to 59.3%.

On this occasion, the British group is announcing a new share buyback program worth $800 million, which, together with the ordinary dividend, will bring the redistribution to its shareholders in 2024 to over $1 billion.

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