We believe banking partners would work to provide InterContinental liquidity as needed, given that the company holds a brand advantage, which will drive healthy cash flow as travel demand returns.
Cyclicality and overbuilding in the industry present risks for shareholders. Typically, US lodging recoveries last five to nine years, but the upcycle ending in 2019 lasted 10 years.
Inflation, as measured by US Core Personal Consumption Expenditures (PCE), is expected to stabilize and finish 2025 around 2.75%, which is in line with the current reading of 2.8% and higher than the ...