0000950103-21-007153.txt : 20210622 0000950103-21-007153.hdr.sgml : 20210622 20210513061447 ACCESSION NUMBER: 0000950103-21-007153 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERCONTINENTAL HOTELS GROUP PLC /NEW/ CENTRAL INDEX KEY: 0000858446 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 250420260 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: BROADWATER PARK STREET 2: DENHAM CITY: BUCKINGHAMSHIRE STATE: X0 ZIP: UB9 5HJ BUSINESS PHONE: 4045513500 MAIL ADDRESS: STREET 1: BROADWATER PARK STREET 2: DENHAM CITY: BUCKINGHAMSHIRE STATE: X0 ZIP: UB9 5HJ FORMER COMPANY: FORMER CONFORMED NAME: SIX CONTINENTS PLC DATE OF NAME CHANGE: 19950531 CORRESP 1 filename1.htm

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Broadwater Park

Denham

Buckinghamshire UB9 5HR

United Kingdom

13 May 2021

Switchboard +44 (0) 1895 512 000

www.ihg.com

VIA EDGAR

United States Securities and Exchange Commission

Office of Real Estate & Construction

Division of Corporation Finance

100 F Street, N.E.

Washington, D.C. 20549

Attn: Ameen Hamady and Shannon Menjivar

Re:

InterContinental Hotels Group PLC

Form 20-F for Fiscal Year Ended December 31, 2020

Filed on March 4, 2021

File No. 001-10409

Dear Mr Hamady,

Thank you for your letter dated April 30, 2021 setting forth comments of the staff (the “Staff”) of the Securities and Exchange Commission regarding the Annual Report on Form 20-F for the fiscal year ended December 31, 2020 (the “2020 Form 20-F”) of InterContinental Hotels Group PLC (“IHG”).

To facilitate your consideration of IHG’s response, we have included below the comment and have provided IHG’s response immediately following.

Form 20-F for the year ended December 31, 2020

Other Financial Information, page 212

1. Your computation of free cash flow appears to differ from the typical calculation of this measure (i.e., cash flows from operations less capital expenditures). Please revise the title of your non-GAAP measure, to avoid potential confusion with free cash flow as typically calculated, to adjusted free cash flow or something similar. Refer to Question 102.07 of the staff’s Compliance & Discussion Interpretation on Non-GAAP Financial Measures for guidance.

Response:

The Company acknowledges the Staff’s comment and confirms that, in order to avoid potential confusion, the name of the non-GAAP measure referred to by the Staff will be amended to adjusted free cash flow.

I hope that you find our response helpful in addressing your comment.

Yours sincerely,

/s/ Paul Edgecliffe-Johnson

Paul Edgecliffe-Johnson

Chief Financial Officer & Group Head of Strategy

CC: Giles Hannam, Pricewaterhouse Coopers LLP

Sarah Kokot, Ernst & Young LLP

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