[1]	In 2025, foreign exchange gains/(losses) have been presented on a separate line. The 2024 and 2023 amounts were previously presented within ‘Financial expenses’.

Group statement of cash flows - USD ($) $ in Millions	12 Months Ended
Group statement of cash flows - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement [Line Items]
Profit for the year	$ 759	$ 628	$ 750
Adjustments reconciling profit for the year to cash flow from operations	602	521	469
Cash flow from operations	1,361	1,149	1,219
Interest paid	(202)	(170)	(119)
Interest received	46	57	36
Deferred purchase consideration paid	0	(3)	0
Tax paid	(307)	(309)	(243)
Net cash from operating activities	898	724	893
Cash flow from investing activities
Purchase of property, plant and equipment	(28)	(29)	(28)
Investment in associates and joint ventures	(11)	(6)	(3)
Investment in other financial assets	(3)	(32)	(60)
Deferred purchase consideration paid	0	(10)	0
Disposal of property, plant and equipment	0	9	0
Repayments of other financial assets	14	11	8
Finance lease receipts	4	4	0
Other investing cash flows	3	3	0
Net cash from investing activities	(190)	(99)	(137)
Cash flow from financing activities
Repurchase of shares, including taxes and transaction costs	(897)	(804)	(790)
Purchase of own shares by employee share trusts	(10)	(27)	(8)
Dividends paid to shareholders	(270)	(259)	(245)
Dividend paid to non-controlling interest	0	0	(3)
Issue of long-term bonds, including effect of currency swaps	990	834	657
Repayment of long-term bonds	(403)	(547)	0
Settlement of currency swaps	0	(45)	0
Drawdown of Revolving Credit Facility	75	0	0
Repayment of Revolving Credit Facility	(75)	0	0
Principal element of lease payments	(30)	(46)	(28)
Other financing cash flows	6	0	0
Net cash from financing activities	(614)	(894)	(417)
Net movement in cash and cash equivalents in the year	94	(269)	339
Cash and cash equivalents at beginning of the year	991	1,278	921
Exchange rate effects	41	(18)	18
Cash and cash equivalents at end of the year	1,126	991	1,278
Brands
Cash flow from investing activities
Purchase of intangible assets	(120)	0	0
Other intangibles
Cash flow from investing activities
Purchase of intangible assets	$ (49)	$ (49)	$ (54)

Group statement of financial position - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
ASSETS
Goodwill and other intangible assets	$ 1,155	$ 1,042
Property, plant and equipment	148	146
Right-of-use assets	269	276
Investment in associates and joint ventures	55	51
Retirement benefit assets	3	3
Other financial assets	211	212
Derivative financial instruments	120	4
Deferred compensation plan investments	316	286
Non-current other receivables	19	35
Deferred tax assets	146	122
Contract costs	103	90
Contract assets	751	612
Total non-current assets	3,296	2,879
Inventories	5	4
Trade and other receivables	833	785
Current tax receivable	27	22
Other financial assets	3	7
Cash and cash equivalents	1,129	1,008
Contract costs	5	5
Contract assets	47	38
Total current assets	2,049	1,869
Total assets	5,345	4,748
LIABILITIES
Loans and other borrowings	(478)	(398)
Lease liabilities	(28)	(26)
Trade and other payables	(676)	(650)
Deferred revenue	(829)	(766)
Provisions	(21)	(22)
Insurance liabilities	(16)	(14)
Tax payable	(52)	(52)
Total current liabilities	(2,100)	(1,928)
Loans and other borrowings	(3,723)	(2,876)
Lease liabilities	(378)	(388)
Derivative financial instruments	(12)	(78)
Retirement benefit obligations	(69)	(68)
Deferred compensation plan liabilities	(316)	(286)
Trade and other payables	(69)	(78)
Deferred revenue	(1,340)	(1,294)
Provisions	(22)	(17)
Insurance liabilities	(29)	(25)
Deferred tax liabilities	(17)	(18)
Tax payable	(6)	0
Total non-current liabilities	(5,981)	(5,128)
Total liabilities	(8,081)	(7,056)
Net liabilities	(2,736)	(2,308)
EQUITY
IHG shareholders’ equity	(2,741)	(2,312)
Non-controlling interest	5	4
Total equity	$ (2,736)	$ (2,308)