In a new report, MKM Partners analyst Christopher Agnew laid out the firm’s bullish case for InterContinental Hotels Group. In addition to InterContinental’s underappreciated business, MKM believes that M&A will likely be a key driver for the company moving forward.

M&A News

A weekend report in London’s The Sunday Times indicated that InterContinental is nearing the closure of a $1.9 billion acquisition of Fairmont Hotels. MKM believes the industry is currently ripe for M&A.

“We believe industry consolidation will continue, including M&A, and we believe IHG is the more likely participant whether acquirer (Kimpton), target or merger,” Agnew explained.

Upside Drivers

Agnew believes…

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