<SEC-DOCUMENT>0001654954-20-010558.txt : 20200929
<SEC-HEADER>0001654954-20-010558.hdr.sgml : 20200929
<ACCEPTANCE-DATETIME>20200929065904
ACCESSION NUMBER:		0001654954-20-010558
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200929
FILED AS OF DATE:		20200929
DATE AS OF CHANGE:		20200929

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:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10409
		FILM NUMBER:		201205981

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a4290a.htm
<DESCRIPTION>TENDER OFFER
<TEXT>
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<font style="font-family: Times New Roman; font-size: 13px">SECURITIES
AND EXCHANGE COMMISSION</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Washington
DC 20549</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
FORM 6-K</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 AND 15d-16
OF</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">THE
SECURITIES EXCHANGE ACT OF 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">For&#xA0;<font style="font-weight: bold">29
September 2020</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 16px"><font style="font-weight: bold">
InterContinental Hotels Group PLC</font><font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 16px">(Registrant's
name)</font></div>
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<font style="font-family: Times New Roman; font-size: 16px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Broadwater
Park, Denham, Buckinghamshire, UB9 5HJ, United Kingdom</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Address
of principal executive offices)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Form
20-F&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Form 40-F</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Yes&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;No</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): Not
applicable</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">EXHIBIT
INDEX</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">99.1</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Tender
Offer dated 29 September 2020</font></div>
</td>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<tr>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Exhibit
No: 99.1</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY
PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS
TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN
ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA
ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT
OF COLUMBIA&#xA0;</font><font style="color: #000000">(the&#xA0;</font><font style="font-weight: bold; color: #000000">United
States</font><font style="color: #000000">)&#xA0;</font><font style="font-weight: bold; color: #000000">OR
ANY</font><font style="color: #000000">&#xA0;</font><font style="font-weight: bold; color: #000000">OTHER JURISDICTION OR TO ANY
OTHER PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR
DISTRIBUTE THIS DOCUMENT&#xA0;(SEE "</font><font style="font-weight: bold; font-style: italic; color: #000000">OFFER AND
DISTRIBUTION RESTRICTIONS</font><font style="font-weight: bold; color: #000000">" BELOW)</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
29 September 2020.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
InterContinental Hotels Group PLC announces tender offer for its
&#xA3;400,000,000 3.875 per cent. Notes due 2022</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
InterContinental Hotels Group PLC (the&#xA0;</font><font style="font-weight: bold; color: #000000">Company</font><font style="color: #000000">) announces today its invitation to holders of its
&#xA3;400,000,000 3.875 per cent. Notes due 28 November 2022 (ISIN:
XS0859098351) guaranteed by Six Continents Limited and
InterContinental Hotels Limited (together,
the&#xA0;</font><font style="font-weight: bold; color: #000000">Guarantors</font><font style="color: #000000">&#xA0;and each a&#xA0;</font><font style="font-weight: bold; color: #000000">Guarantor</font><font style="color: #000000">) (the&#xA0;</font><font style="font-weight: bold; color: #000000">Notes</font><font style="color: #000000">) to tender their Notes for purchase by the
Company for cash (subject to the satisfaction (without limitation)
or waiver of the New Financing Condition on or prior to the
Settlement Date (each as defined below))
(the&#xA0;</font><font style="font-weight: bold; color: #000000">Offer</font><font style="color: #000000">).&#xA0;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The Offer is being made on the terms and subject to the conditions
contained in the tender offer memorandum dated 29 September 2020
(the&#xA0;</font><font style="font-weight: bold; color: #000000">Tender Offer
Memorandum</font><font style="color: #000000">) prepared by the
Company and is subject to the offer restrictions set out below and
as more fully described in the Tender Offer
Memorandum.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Copies of the Tender Offer Memorandum are (subject to distribution
restrictions) available from the Dealer Managers and the Tender
Agent as set out below. Capitalised terms used in this announcement
but not defined have the meanings given to them in the Tender Offer
Memorandum.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Summary</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
A summary of certain of the terms of the Offer appears
below:</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: bottom; width: 16%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Description of the Notes</font></div>
</td>
<td style="vertical-align: bottom; width: 18%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
ISIN/ Common Code</font></div>
</td>
<td style="vertical-align: bottom; width: 20%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Outstanding Nominal Amount</font></div>
</td>
<td style="vertical-align: bottom; width: 14%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Purchase Price</font></div>
</td>
<td style="vertical-align: bottom; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Maximum Acceptance Amount</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 16%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA3;400,000,000 3.875 per cent. Notes due 2022</font></div>
</td>
<td style="vertical-align: middle; width: 18%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
XS0859098351/ 085909835</font></div>
</td>
<td style="vertical-align: middle; width: 20%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA3;400,000,000</font></div>
</td>
<td style="vertical-align: middle; width: 14%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
104.40 per cent. of the principal amount of the Notes</font></div>
</td>
<td style="vertical-align: middle; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
An&#xA0;aggregate nominal amount of the outstanding Notes&#xA0;to
be determined by the Company as set out in the Tender Offer
Memorandum and announced as soon as reasonably practicable
following the pricing of the New Notes (as defined
below)</font></div>
</td>
</tr></table>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company is not under any obligation to accept any tender of
Notes for purchase pursuant to the Offer.&#xA0; Tenders of Notes
for purchase may be rejected in the sole discretion of the Company
for any reason and the Company is not under any obligation to
Noteholders to furnish any reason or justification for refusing to
accept a tender of Notes for purchase.&#xA0; For example, tenders
of Notes for purchase may be rejected if the Offer is terminated,
if the New Financing Condition is not satisfied or waived, if the
Offer does not comply with the relevant requirements of a
particular jurisdiction or for any other reason. The Company may,
in its sole discretion, extend, re-open, amend, waive any condition
of and/or terminate the Offer at any time (subject to applicable
law and as provided in the Tender Offer Memorandum).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
In addition, the Company announced today its intention to issue one
or two series of new fixed rate euro and/or sterling denominated
notes under its &#xA3;3,000,000,000 Euro Medium Term Note Programme
(the&#xA0;</font><font style="font-weight: bold; color: #000000">New Notes</font><font style="color: #000000">), to be unconditionally and irrevocably
guaranteed by the Guarantors. Whether the Company will accept for
purchase Notes validly tendered pursuant to the Offer is subject,
without limitation, to the successful completion (in the sole
determination of the Company) of the issue of the New Notes
(the&#xA0;</font><font style="font-weight: bold; color: #000000">New Financing
Condition</font><font style="color: #000000">) or (in the sole
determination of the Company) the waiver of such condition by the
Company.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Rationale for the Offer</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The purpose of the Offer is to optimise the Company's debt maturity
profile in conjunction with the proposed issue of New Notes.
Furthermore, the Offer will provide liquidity to those holders
whose Notes are accepted in the Offer.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Notes purchased by the Company pursuant to the Offer will be
cancelled and will not be re-issued or re-sold. Notes which have
not been validly offered and accepted for purchase pursuant to the
Offer will remain outstanding.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Details of the Offer</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Purchase Price</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The Company will pay for Notes validly tendered and accepted
(subject to the satisfaction (without limitation) or waiver of the
New Financing Condition on or prior to the Settlement Date) by it
for purchase pursuant to the Offer at a price&#xA0;equal to
104.40&#xA0;per cent. of the principal amount&#xA0;of the Notes
(the&#xA0;</font><font style="font-weight: bold; color: #000000">Purchase
Price</font><font style="color: #000000">).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Accrued Interest</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The Company will also pay accrued and unpaid interest
(an&#xA0;</font><font style="font-weight: bold; color: #000000">Accrued Interest
Payment</font><font style="color: #000000">) from (and including)
the immediately preceding interest payment date for the Notes to
(but excluding) the Settlement Date in respect of Notes accepted
for purchase pursuant to the Offer.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
New Financing Condition</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company is not under any obligation to accept for purchase any
Notes tendered pursuant to the Offer. The acceptance for purchase
by the Company of Notes tendered pursuant to the Offer is at the
sole discretion of the Company and tenders may be rejected by the
Company for any reason.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company announced today its intention to issue New Notes, to be
unconditionally and irrevocably guaranteed by the Guarantors.
Whether the Company will accept for purchase Notes validly tendered
pursuant to the Offer is subject to the satisfaction (without
limitation) or waiver of the New Financing Condition on or prior to
the Settlement Date.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
Any investment decision to purchase any New Notes should be made
solely on the basis of the information contained in the base
prospectus dated 14 September 2020, prepared by the Company and
relating to its &#xA3;3,000,000,000 Euro Medium Term Note Programme
(the&#xA0;</font><font style="font-weight: bold; color: #000000">Base
Prospectus</font><font style="color: #000000">) and the final terms
relating to such New Notes and no reliance is to be placed on any
representations other than those contained in the Base
Prospectus.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The New Notes are not being, and will not be, offered or sold in
the United States. Nothing in the Tender Offer Memorandum
constitutes an offer to sell or the solicitation of an offer to buy
the New Notes in the United States or any other jurisdiction.
Securities may not be offered, sold or delivered in the United
States absent registration under, or an exemption from the
registration requirements of, the Securities Act. The New Notes
have not been, and will not be, registered under the Securities Act
or the securities laws of any state or other jurisdiction of the
United States and may not be offered, sold or delivered, directly
or indirectly, within the United States or to, or for the account
or benefit of, U.S. persons.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The New Notes have and shall only be offered in conformity with the
provisions of the Base Prospectus and the selling restrictions and,
if applicable, the exemption wording, contained
therein.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
No action has been or will be taken in any jurisdiction in relation
to the New Notes to permit a public offering of
securities.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Compliance information for the New Notes: MiFID II
professionals/ECPs only/No PRIIPs KID - eligible counterparties and
professional clients only (all distribution channels). No sales to
EEA or UK retail investors; no key information document has been or
will be prepared. See the Base Prospectus for further
information.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Allocation of the New Notes</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company will, in connection with the allocation of the proposed
issue of New Notes by or on behalf of the Company, consider among
other factors whether or not the relevant Noteholder seeking an
allocation of the New Notes has validly tendered, or indicated a
firm intention to tender, their Notes pursuant to the Offer, and,
if so, the aggregate principal amount of the Notes validly tendered
or intended to be tendered by such Noteholder. When considering
allocation of the New Notes, the Company may give preference to
those Noteholders who, prior to such allocation, have validly
tendered or indicated their firm intention to the Company or to any
of the Dealer Managers to tender their Notes pursuant to the Offer
and subscribe for New Notes. However, the Company is not obliged to
allocate the New Notes to a Noteholder who has validly tendered or
indicated a firm intention to tender the Notes pursuant to the
Offer. Any allocation of the New Notes, while being considered by
the Company as set out above, will be made in accordance with
customary new issue allocation processes and procedures. In the
event that a Noteholder validly tenders Notes pursuant to the
Offer, such Notes will remain subject to such tender and the
conditions of the Offer as set out in the Tender Offer Memorandum
irrespective of whether that Noteholder receives all, part or none
of any allocation of New Notes for which it has
applied.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
A Noteholder wishing for its Tender Instruction or its intention to
tender Notes to be taken into account in the allocation process for
the New Notes should contact a Dealer Manager (in its capacity as a
joint bookrunner of the issue of the New Notes) in accordance with
the standard new issue procedure of such Dealer Manager. The
pricing of the New Notes is expected to take place prior to the
Expiration Deadline (as defined below) and, as such, Noteholders
are advised to contact a Dealer Manager as soon as possible in
order for this to be taken into account as part of the New Notes
allocation process.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Maximum Acceptance Amount and Scaling</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
Subject to the satisfaction (without limitation) or waiver of the
New Financing Condition on or prior to the Settlement Date, the
Company proposes to accept for purchase pursuant to the Offer a
maximum aggregate nominal amount of the outstanding Notes that will
be determined as soon as reasonably practicable following the
pricing of the New Notes at the Company's sole discretion
(the&#xA0;</font><font style="font-weight: bold; color: #000000">Maximum Acceptance
Amount</font><font style="color: #000000">), although the Company
reserves the right, in its sole discretion, to accept more or less
than the Maximum Acceptance Amount for purchase pursuant to the
Offer (the final aggregate amount of Notes accepted for purchase
pursuant to the Offer being the&#xA0;</font><font style="font-weight: bold; color: #000000">Final Acceptance
Amount</font><font style="color: #000000">).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
If the aggregate nominal amount of Notes tendered for purchase
pursuant to the Offer is greater than the Final Acceptance Amount,
Notes may be accepted for purchase on a&#xA0;</font><font style="font-style: italic; color: #000000">pro rata</font><font style="color: #000000">&#xA0;basis, as fully described in the Tender
Offer Memorandum.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Tender Instructions</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
In order to participate in, and be eligible to receive the Purchase
Price and Accrued Interest Payment pursuant to the Offer,
Noteholders must validly tender their Notes by delivering, or
arranging to have delivered on their behalf, a valid Tender
Instruction that is received by the Tender Agent by 4.00p.m.
(London time) on 6 October 2020.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
Tender Instructions will be irrevocable</font><font style="color: #000000">&#xA0;except in the limited circumstances
described in the Tender Offer Memorandum.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Tender Instructions must be submitted in respect of a minimum
nominal amount of Notes of no less than &#xA3;100,000, being the
minimum denomination of the Notes, and may be submitted in integral
amounts of &#xA3;1,000 thereafter.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
A separate Tender Instruction must be completed on behalf of each
beneficial owner.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Indicative Timetable for the Offer</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
This is an indicative timetable showing one possible outcome for
the timing of the Offer based on the dates in the Tender Offer
Memorandum. This timetable is subject to change and dates and times
may be extended or amended by the Company in accordance with the
terms of the Offer as described in the Tender Offer Memorandum.
Accordingly, the actual timetable may differ significantly from the
timetable below.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; width: 100%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;">
<tr>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Events</font></div>
</td>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Times and Dates</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
(All times are London time)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Commencement of the Offer</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Offer announced.&#xA0; Tender Offer Memorandum available from the
Tender Agent.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Tuesday,
29 September 2020</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Expected pricing of the New Notes</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Prior
to the Expiration Deadline</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Announcement of Maximum Acceptance Amount</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">As
soon as reasonably practicable after pricing of the New
Notes</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Expiration Deadline</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Final deadline for receipt of valid Tender Instructions by the
Tender Agent in order for Noteholders to be able to participate in
the Offer.</font></div>
</td>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">4.00p.m.
on</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Tuesday,
6 October 2020</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Announcement of Results</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
Announcement of whether the Company will accept (subject to the
satisfaction (without limitation) or waiver of the New Financing
Condition on or prior to the Settlement Date) valid tenders of
Notes pursuant to the Offer and, if so accepted, the Final
Acceptance Amount and details of any&#xA0;</font><font style="font-style: italic; color: #000000">pro rata</font><font style="color: #000000">&#xA0;scaling.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">As
soon as reasonably practicable on Wednesday, 7 October
2020</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
Settlement Date</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Subject to the satisfaction (without limitation) or waiver of the
New Financing Condition on or prior to the Settlement
Date,&#xA0;Expected Settlement Date for the Offer.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Payment of the Purchase Price and Accrued Interest for any Notes
accepted for purchase and settlement of such
purchases.</font></div>
</td>
<td style="vertical-align: top; width: 50%;">
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Thursday,
8 October 2020</font></div>
</td>
</tr></table>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
The Company may, in its sole discretion, extend, re-open, amend,
waive any condition of and/or terminate the Offer at any time
(subject to applicable law and as provided in the Tender Offer
Memorandum) and the above times and dates are subject to the right
of the Company to so extend, re-open, amend, waive any condition
(including the New Financing Condition) of and/or terminate the
Offer.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
<font style="color: #000000">Noteholders are advised to check with
any bank, securities broker or other intermediary through which
they hold Notes when such intermediary would need to receive Tender
Instructions from a Noteholder in order for that Noteholder to be
able to participate in, or (in the limited circumstances in which
revocation is permitted) revoke their Tender Instruction to
participate in, the Offer by the deadlines set out
above.&#xA0;&#xA0;</font><font style="font-weight: bold; color: #000000">The deadlines set by any such
intermediary and each Clearing System for the submission and
withdrawal of Tender Instructions will be earlier than the relevant
deadlines set out above and in the Tender Offer
Memorandum.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-style: italic; color: #000000">
Unless stated otherwise, announcements in connection with the Offer
will be made (i)</font><font style="color: #000000">&#xA0;</font><font style="font-style: italic; color: #000000">by publication via RNS and
(ii) by the delivery of notices to the Clearing Systems for
communication to Direct Participants. Such announcements may also
be found on the relevant Reuters Insider Screen and be made by the
issue of a press release to a Notifying News Service. Copies of all
such announcements, press releases and notices can also be obtained
upon request from the Tender Agent, the contact details for which
are below. Significant delays may be experienced where notices are
delivered to the Clearing Systems and Noteholders are urged to
contact the Tender Agent for the relevant announcements during the
course of the Offer. In addition, Noteholders may contact the
Dealer Managers for information using the contact details
below.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Noteholders are advised to read carefully the Tender Offer
Memorandum for full details of and information on the procedures
for participating in the Offer.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
Barclays Bank PLC</font><font style="color: #000000">&#xA0;(Telephone: + 44 (0) 20 3134 8515;
Attention: Liability Management Group; Email: eu.lm@barclays.com)
and&#xA0;</font><font style="font-weight: bold; color: #000000">BofA
Securities</font><font style="color: #000000">&#xA0;(Telephone: +44
(0) 20 7996 5420; Attention: Liability Management Group; Email:
DG.LM-EMEA@bofa.com) are acting as Dealer Managers for the Offer
and&#xA0;</font><font style="font-weight: bold; color: #000000">Lucid Issuer Services
Limited</font><font style="color: #000000">&#xA0;(Telephone: +44
(0) 20 7704 0880; Attention: Owen Morris; Email: ihg@lucid-is.com)
is acting as Tender Agent.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Questions and requests for assistance in connection with (i) the
Offer may be directed to the Dealer Managers and (ii) the delivery
of Tender Instructions may be directed to the Tender Agent, the
contact details for each of which are set out above.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
This announcement is released by the Company and contains
information that qualified or may have qualified as inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 (MAR), encompassing information relating
to the Offer described above. For the purposes of MAR and Article 2
of Commission Implementing Regulation (EU) 2016/1055, this
announcement is made by Nicolette Henfrey, Company Secretary of
InterContinental Hotels Group PLC.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
LEI Number: 2138007ZFQYRUSLU3J98</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
DISCLAIMER&#xA0;</font><font style="color: #000000">This
announcement must be read in conjunction with the Tender Offer
Memorandum.&#xA0; This announcement and the Tender Offer Memorandum
contain important information which should be read carefully before
any decision is made with respect to the Offer.&#xA0; If any
Noteholder is in any doubt as to the action it should take, it is
recommended to seek its own financial and legal advice, including
in respect of any tax consequences, from its broker, bank manager,
solicitor, accountant or other independent financial, tax or legal
adviser.&#xA0; Any individual or company whose Notes are held on
its behalf by a broker, dealer, bank, custodian, trust company or
other nominee must contact such entity if it wishes to tender such
Notes pursuant to the Offer. None of the Company, the Guarantors,
the Dealer Managers or the Tender Agent makes any recommendation
whether Noteholders should tender Notes pursuant to the
Offer.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
OFFER AND DISTRIBUTION RESTRICTIONS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The distribution of this announcement and the Tender Offer
Memorandum in certain jurisdictions may be restricted by law.&#xA0;
Persons into whose possession this announcement and/or the Tender
Offer Memorandum comes are required by each of the Company, the
Guarantors, the Dealer Managers and the Tender Agent to inform
themselves about, and to observe, any such restrictions.&#xA0;
Neither this announcement nor the Tender Offer Memorandum
constitutes an offer to buy or a solicitation of an offer to sell
the Notes (and tenders of Notes in the Offer will not be accepted
from Noteholders) in any circumstances in which such offer or
solicitation is unlawful.&#xA0; In those jurisdictions where the
securities, blue sky or other laws require the Offer to be made by
a licensed broker or dealer and either Dealer Manager or any of the
Dealer Managers' respective affiliates is such a licensed broker or
dealer in any such jurisdiction, the Offer shall be deemed to be
made by such Dealer Manager or such affiliate, as the case may be,
on behalf of the Company in such jurisdictions.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
United States&#xA0;&#xA0;&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The Offer is not being made or offered, and will not be made or
offered, directly or indirectly in or into, or by use of the mails
of, or by any means or instrumentality of interstate or foreign
commerce of or of any facilities of a national securities exchange
of, the United States or to or for the account or benefit of any
U.S. person (as defined in Regulation S of the United States
Securities Act of 1933, as amended (each a&#xA0;</font><font style="font-weight: bold; color: #000000">U.S. Person</font><font style="color: #000000">)). This includes, but is not limited to,
facsimile transmission, electronic mail, telex, telephone, the
internet and other forms of electronic communication. The Notes may
not be tendered in the Offer by any such use, means,
instrumentality or facility from or within the United States or by
persons located or resident in the United States or by, or by any
person acting for the account or benefit of, a U.S. Person.
Accordingly, copies of this announcement, the Tender Offer
Memorandum and any other documents or materials relating to the
Offer are not being, and must not be, directly or indirectly mailed
or otherwise transmitted, distributed or forwarded (including,
without limitation, by custodians, nominees or trustees) in or into
the United States or to any persons located or resident in the
United States or to any U.S. Person. Any purported tender of Notes
in the Offer resulting directly or indirectly from a violation of
these restrictions will be invalid and any purported tender of
Notes made by, or by any person acting for the account or benefit
of, a U.S. Person or by a person located in the United States or
any agent, fiduciary or other intermediary acting on a
non-discretionary basis for a principal giving instructions from
within the United States or for a U.S. Person will be invalid and
will not be accepted.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Neither this announcement nor the Tender Offer Memorandum is an
offer to buy or sell, or a solicitation of an offer to sell or buy,
any Notes or other securities in the United States or to U.S.
Persons. Securities may not be offered or sold in the United States
absent registration under, or an exemption from the registration
requirements of, the Securities Act. The New Notes have not been,
and will not be, registered under the Securities Act or the
securities laws of any state or other jurisdiction of the United
States, and may not be offered, sold or delivered, directly or
indirectly, in the United States or to, or for the account or
benefit of, U.S. Persons.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
Accordingly, each holder of Notes participating in the Offer will
represent that it (i) did not receive in the United States a copy
of this announcement, the Tender Offer Memorandum or any other
document or information related to the Offer and did not send any
such document or information into the United States, (ii) has not
used, directly or indirectly, the mails of, or a means of
communication or other means or instrumentality of commerce or the
facilities of a United States securities exchange in relation to
the Offer, (iii) is not a U.S. Person, it is not located in the
United States and is not participating in the Offer from the United
States, or (iv) if not a beneficial owner of the Notes, it is
acting on a non-discretionary basis for a principal located outside
the United States that it did not receive in the United States a
copy of this announcement, the Tender Offer Memorandum or any other
document or information related to the Offer and did not send any
such document or information into the United States, has not used,
directly or indirectly, the mails of, or a means of communication
or other means or instrumentality of commerce or the facilities of
a United States securities exchange in relation to the Offer, and
is not giving an order to accept or participate in the Offer from
the United States and is not a U.S. Person. For the purposes of
this and the above two paragraphs,&#xA0;</font><font style="font-weight: bold; color: #000000">United
States</font><font style="color: #000000">&#xA0;means the United
States of America, its territories and possessions (including
Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake
Island and the Northern Mariana Islands), any state of the United
States of America and the District of Columbia.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Italy</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;<br></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
None of the Offer, this announcement, the Tender Offer Memorandum
or any other document or materials relating to the Offer have been
submitted to the clearance procedures of
the&#xA0;</font><font style="font-style: italic; color: #000000">Commissione Nazionale per le
Societ&#xE0; e la Borsa</font><font style="color: #000000">&#xA0;(</font><font style="font-weight: bold; color: #000000">CONSOB</font><font style="color: #000000">) pursuant to Italian laws and regulations.&#xA0;
The Offer is being carried out in the Republic of Italy
(</font><font style="font-weight: bold; color: #000000">Italy</font><font style="color: #000000">) as an exempted offer pursuant to article
101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24
February 1998, as amended (the&#xA0;</font><font style="font-weight: bold; color: #000000">Financial Services
Act</font><font style="color: #000000">) and article 35-bis,
paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999, as
amended. Accordingly, Noteholders or beneficial owners of the Notes
that are located in Italy may tender Notes for purchase through
authorised persons (such as investment firms, banks or financial
intermediaries permitted to conduct such activities in Italy in
accordance with the Financial Services Act, CONSOB Regulation No.
20307 of 15 February 2018, as amended from time to time, and
Legislative Decree No. 385 of 1 September 1993, as amended) and in
compliance with applicable laws and regulations or with
requirements imposed by CONSOB or any other Italian
authority.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
United Kingdom</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The communication of this announcement, the Tender Offer Memorandum
and any other documents or materials relating to the Offer is not
being made and such documents and/or materials have not been
approved by an authorised person for the purposes of section 21 of
the Financial Services and Markets Act 2000.&#xA0; Accordingly,
such documents and/or materials are not being distributed to, and
must not be passed on to, the general public in the United
Kingdom.&#xA0; The communication of such documents and/or materials
as a financial promotion is only being made to, and may only be
acted upon by, those persons in the United Kingdom falling within
the definition of investment professionals (as defined in Article
19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the&#xA0;</font><font style="font-weight: bold; color: #000000">Financial
Promotion</font><font style="color: #000000">&#xA0;</font><font style="font-weight: bold; color: #000000">Order</font><font style="color: #000000">)) or persons who are within Article 43 of the
Financial Promotion Order or any other persons to whom it may
otherwise lawfully be made under the Financial Promotion
Order.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
France</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The Offer is not being made, directly or indirectly, to the public
in the Republic of France (</font><font style="font-weight: bold; color: #000000">France</font><font style="color: #000000">). This announcement, the Tender Offer Memorandum
and any other document or material relating to the Tender Offer
have only been and shall only be distributed in France to qualified
investors as defined in Article 2(e) of Regulation (EU) 2017/1129.
This announcement, the Tender Offer Memorandum has not been and
will not be submitted for clearance to nor approved by
the&#xA0;</font><font style="font-style: italic; color: #000000">Autorit&#xE9; des marches
financiers</font><font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
For further information please contact:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Investor Relations:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(Stuart Ford, Matthew Kay, Rakesh
Patel)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
+44 (0)1895
512176&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
+44 (0)7527 419 431</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Media Relations:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(Yasmin Diamond, Mark Debenham): &#xA0;&#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0; &#xA0;&#xA0; +44 (0)1895
512097&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
+44 (0)7527 424 046</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Notes to Editors:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline; color: #0000FF; font-size: 13px">
IHG</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;(InterContinental
Hotels Group)</font><font style="color: #000000; font-size: 13px">&#xA0;[LON:IHG, NYSE:IHG (ADRs)]
is a global organisation with a broad portfolio of hotel brands,
including&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Six
Senses Hotels Resorts Spas</font><font style="color: #000000; font-size: 13px">,</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Regent
Hotels &amp; Resorts</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">InterContinental</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;Hotels
&amp; Resorts</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Kimpton</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;Hotels
&amp; Restaurants</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Hotel
Indigo</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">EVEN</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;Hotels</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">HUALUXE</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;Hotels
and Resorts</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Crowne
Plaza</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;Hotels
&amp; Resorts</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">voco&#x2122;</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Holiday
Inn</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;Hotels
&amp; Resorts</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xA0;</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Holiday
Inn Express</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Holiday
Inn Club Vacations</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">avid&#x2122;
hotels</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Staybridge
Suites</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Atwell
Suites&#x2122;</font><font style="color: #000000; font-size: 13px">,
and&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">Candlewood
Suites</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="color: #000000; font-size: 13px">.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">
IHG franchises, leases, manages or owns more than 5,900 hotels and
approximately 883,000 guest rooms in more than 100 countries, with
over 1,900 hotels in its development pipeline. IHG also
manages&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">IHG</font><font style="font-size: 70%; vertical-align: top; text-decoration: underline; color: #0000FF">&#xAE;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">&#xA0;Rewards
Club</font><font style="color: #000000; font-size: 13px">, our
global loyalty programme, which has more than 100 million enrolled
members.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline; color: #0000FF; font-size: 13px">
InterContinental Hotels Group PLC</font><font style="color: #000000; font-size: 13px">&#xA0;is the Group's holding
company and is incorporated in Great Britain and registered in
England and Wales. Approximately&#xA0;400,000 people work across
IHG's hotels and corporate offices globally.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">
Visit&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">www.ihg.com</font><font style="color: #000000; font-size: 13px">&#xA0;for
hotel information and reservations and&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">www.ihgrewardsclub.com</font><font style="color: #000000; font-size: 13px">&#xA0;for
more on IHG Rewards Club. For our latest news,
visit:&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">https://www.ihgplc.com/en/news-and-media</font><font style="color: #000000; font-size: 13px">&#xA0;and
follow us on social media at:&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">https://twitter.com/ihgcorporate</font><font style="color: #000000; font-size: 13px">,&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">www.facebook.com/ihgcorporate</font><font style="color: #000000; font-size: 13px">&#xA0;and&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">www.linkedin.com/company/intercontinental-hotels-group</font><font style="color: #000000; font-size: 13px">.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">SIGNATURES</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
InterContinental Hotels Group PLC</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Registrant)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">/<font style="text-decoration: underline">s/
F. Cuttell</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Name:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">F.
CUTTELL</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Title:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">ASSISTANT
COMPANY SECRETARY</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date:</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
29 September 2020</font></div>
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