IHG Hotels & Resorts vs Travel + Leisure
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KIRA’s take AI analyst
I put IHG Hotels & Resorts and Travel + Leisure side by side, using each one’s latest annual report. Here is what stands out:
- IHG Hotels & Resorts is the larger business, with $5.2B of revenue in fiscal 2025 against $4.0B for Travel + Leisure.
- IHG Hotels & Resorts grew revenue faster (5.4%, against 4.1%).
- IHG Hotels & Resorts kept more of each dollar of sales as operating profit (23.1% operating margin, against 13.8%).
- IHG Hotels & Resorts turned more of its sales into free cash flow (16.8% FCF margin, against 13.0%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
IHG Hotels & Resorts
IHG
6/7
Revenue growth5-year growthOperating marginNet marginFCF marginNet debt / EBITDA
Travel + Leisure
TNL
1/7
Share count change
Side by side
Best in the row
| Latest fiscal year | IHG FY25 | TNL FY25 |
|---|---|---|
| Size | ||
| Market cap | $26.1B | $4.2B |
| Revenue | $5.2B | $4.0B |
| Free cash flow | $870M | $523M |
| Net income | $758M | $230M |
| Growth | ||
| Revenue growth | 5.4% | 4.1% |
| 5-year growth | 16.7% | 13.2% |
| Share count change | −4.4% | −5.4% |
| Profitability | ||
| Gross margin | 85.3% | — |
| Operating margin | 23.1% | 13.8% |
| Net margin | 14.6% | 5.7% |
| FCF margin | 16.8% | 13.0% |
| Return on capital | — | 8.5% |
| Return on equity | — | — |
| Balance sheet | ||
| Net debt | $3.1B | $5.3B |
| Net debt / EBITDA | 2.4x | 7.9x |
| Dividends and buybacks | $1.2B | $450M |
| Valuation & quality | ||
| P/E | — | 17.7x |
| Piotroski F-score | 8 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.