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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Presentation of leases for lessee [abstract] |
Disclosure of quantitative information about right-of-use assets | Right-of-use assets
|  |  |  | Land and buildings $m |  |  | Investment property $m |  |  | Other $m |  |  | Total $m |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2023 |  |  |  |  | 571 |  |  |  | 50 |  |  |  | 2 |  |  |  | 623 |
Additions and other re-measurements |  |  |  |  | 15 |  |  |  | – |  |  |  | 2 |  |  |  | 17 |
Transfers to investment property |  |  |  |  | (2 | ) |  |  | 2 |  |  |  | – |  |  |  | – |
Terminations |  |  |  |  | (51 | ) |  |  | – |  |  |  | (1 | ) |  |  | (52 | )
Exchange and other adjustments |  |  |  |  | 1 |  |  |  | – |  |  |  | – |  |  |  | 1 |
At 31 December 2023 |  |  |  |  | 534 |  |  |  | 52 |  |  |  | 3 |  |  |  | 589 |
Additions and other re-measurements |  |  |  |  | 28 |  |  |  | – |  |  |  | 5 |  |  |  | 33 |
Transfers to finance lease receivable |  |  |  |  | (13 | ) |  |  | (14 | ) |  |  | (4 | ) |  |  | (31 | )
Terminations |  |  |  |  | (11 | ) |  |  | – |  |  |  | (1 | ) |  |  | (12 | )
Exchange and other adjustments |  |  |  |  | (5 | ) |  |  | – |  |  |  | – |  |  |  | (5 | )
At 31 December 2024 |  |  |  |  | 533 |  |  |  | 38 |  |  |  | 3 |  |  |  | 574 |
Depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2023 |  |  |  |  | (294 | ) |  |  | (47 | ) |  |  | (2 | ) |  |  | (343 | )
Provided |  |  |  |  | (22 | ) |  |  | – |  |  |  | – |  |  |  | (22 | )
System Fund expense |  |  |  |  | (2 | ) |  |  | – |  |  |  | – |  |  |  | (2 | )
Transfers to investment property |  |  |  |  | 2 |  |  |  | (2 | ) |  |  | – |  |  |  | – |
Terminations |  |  |  |  | 51 |  |  |  | – |  |  |  | 1 |  |  |  | 52 |
Exchange and other adjustments |  |  |  |  | (1 | ) |  |  | – |  |  |  | – |  |  |  | (1 | )
At 31 December 2023 |  |  |  |  | (266 | ) |  |  | (49 | ) |  |  | (1 | ) |  |  | (316 | )
Provided |  |  |  |  | (21 | ) |  |  | – |  |  |  | (1 | ) |  |  | (22 | )
System Fund expense |  |  |  |  | 2 |  |  |  | – |  |  |  | – |  |  |  | 2 |
Transfers to finance lease receivable |  |  |  |  | 8 |  |  |  | 13 |  |  |  | – |  |  |  | 21 |
Terminations |  |  |  |  | 11 |  |  |  | – |  |  |  | 1 |  |  |  | 12 |
Exchange and other adjustments |  |  |  |  | 5 |  |  |  | – |  |  |  | – |  |  |  | 5 |
At 31 December 2024 |  |  |  |  | (261 | ) |  |  | (36 | ) |  |  | (1 | ) |  |  | (298 | )
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2024 |  |  |  |  | 272 |  |  |  | 2 |  |  |  | 2 |  |  |  | 276 |
At 31 December 2023 |  |  |  |  | 268 |  |  |  | 3 |  |  |  | 2 |  |  |  | 273 |
At 1 January 2023 |  |  |  |  | 277 |  |  |  | 3 |  |  |  | – |  |  |  | 280 |
Disclosure Of Lease Liabilities | The majority of the Group’s lease liabilities are discounted at incremental borrowing rates of up to 10%. The rate implicit in the InterContinental Boston lease was 9.7% and was derived from a valuation of the hotel at lease inception in 2006.
|  |  |  | 2024 |  |  |  |  | 2023 |
Currency |  |  |  | $m |  |  |  |  | $m |
US dollars |  |  |  |  | 357 |  |  |  |  |  | 357 |
Sterling |  |  |  |  | 31 |  |  |  |  |  | 32 |
Euros |  |  |  |  | 3 |  |  |  |  |  | 4 |
Other |  |  |  |  | 23 |  |  |  |  |  | 33 |
|  |  |  |  | 414 |  |  |  |  |  | 426 |
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  | 26 |  |  |  |  |  | 30 |
Non-current |  |  |  |  | 388 |  |  |  |  |  | 396 |
|  |  |  |  | 414 |  |  |  |  |  | 426 |
Disclosure Of Lease Expenditure Recognised Explanatory | Amounts recognised in the Group income statement
|  |  |  | 2024 $m |  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
Depreciation of right-of-use assets |  |  |  |  | 22 |  |  |  |  |  | 22 |  |  |  |  |  |  |  | 25 |
System Fund depreciation of right-of-use assets |  |  |  |  | (2 | ) |  |  |  |  | 2 |  |  |  |  |  |  |  | 3 |
Expense relating to variable lease payments |  |  |  |  | 77 |  |  |  |  |  | 62 |  |  |  |  |  |  |  | 47 |
Expense relating to short-term leases and low-value assets |  |  |  |  | 1 |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 1 |
Income from operating subleases |  |  |  |  | (3 | ) |  |  |  |  | (2 | ) |  |  |  |  |  |  | (1 | )
Recognised in operating profit |  |  |  |  | 95 |  |  |  |  |  | 86 |  |  |  |  |  |  |  | 75 |
Interest on lease liabilities |  |  |  |  | 30 |  |  |  |  |  | 29 |  |  |  |  |  |  |  | 29 |
Total recognised in the Group income statement |  |  |  |  | 125 |  |  |  |  |  | 115 |  |  |  |  |  |  |  | 104 |
Disclosure of Detailed Information About Lease Liabilities Recognized In Cash Flow Statement Explanatory | Amounts recognised in the Group statement of cash flows
|  |  |  | 2024 $m |  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
Operating activities |  |  |  |  | 108 |  |  |  |  |  | 92 |  |  |  |  |  |  |  | 72 |
Investing activities |  |  |  |  | (4 | ) |  |  |  |  | – |  |  |  |  |  |  |  | (6 | )
Financing activities |  |  |  |  | 46 |  |  |  |  |  | 28 |  |  |  |  |  |  |  | 36 |
Net cash paid |  |  |  |  | 150 |  |  |  |  |  | 120 |  |  |  |  |  |  |  | 102 |

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