Brokerage firm Goldman Sachs Downgrades its rating on InterContinental Hotels Group PLC (ADR)(NYSE:IHG). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Jun 22, 2016.
InterContinental Hotels Group PLC (ADR) (IHG) shares turned negative on Mondays trading session with the shares closing down -2.37 points or -6.32% at a volume of 4,99,949. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.22. The peak price level was also seen at $35.22 while the days lowest was $34.63. Finally the shares closed at $35.14. The 52-week high of the shares is $51.60002 while the 52-week low is $34.63. According to the latest information available, the market cap of the company is $6,914 M.
InterContinental Hotels Group PLC is a hotel company. The Company franchises leases manages or owns over 4800 hotels and approximately 710000 guest rooms in nearly 100 countries. The Companys portfolio of hotel brands include InterContinental Hotels & Resorts HUALUXE Hotels and Resorts Crowne Plaza Hotels & Resorts Hotel Indigo EVEN Hotels Holiday Inn Holiday Inn Express Staybridge Suites Candlewood Suites and Kimpton Hotels & Restaurant. The Company operates through four geographical regions: Americas Europe Asia Middle East and Africa and Greater China.