Holiday Inn 2015 Annual Report Download - page 178

adjusted
excluding the effect of exceptional items
and any relevant tax.
ADR
an American Depositary Receipt, being
a receipt evidencing title to an ADS.
ADR Depositary (JPMorgan)
JPMorgan Chase Bank N.A.
ADS
an American Depositary Share as evidenced
by an ADR, being a registered negotiable
security, listed on the New York Stock
Exchange, representing one ordinary share
of 15265/329 pence each of the Company.
AGM
Annual General Meeting of InterContinental
Hotels Group PLC.
AMEA
Asia, Middle East and Africa.
Annual Report
The Annual Report and Form 20–F
in relation to the years ending
31 December 2014 or 2015, as relevant.
APP
Annual Performance Plan.
Articles
the Articles of Association of the Company
for the time being in force.
average daily rate
rooms revenue divided by the number
of room nights sold.
basic earnings per ordinary share
profit available for IHG equity holders divided
by the weighted average number of ordinary
shares in issue during the year.
capital expenditure
purchases of property, plant and equipment,
intangible assets, associate and joint venture
investments, and other financial assets.
cash-generating units (CGUs)
the smallest identifiable groups of assets
that generate cash inflows that are largely
independent of the cash inflows from other
assets or groups of assets.
Code
UK Corporate Governance Code issued in
September 2014 by the Financial Reporting
Council in the UK.
Companies Act
the Companies Act 2006, as amended from
time to time.
Company
InterContinental Hotels Group PLC.
Glossary
comparable RevPAR
a comparison for a grouping of hotels that
have traded in all months in both financial
years being compared. Principally excludes
new hotels, hotels closed for major
refurbishment and hotels sold in either
of the two years.
constant currency
a current-year value translated using
the previous year’s exchange rates.
contingencies
liabilities that are contingent upon
the occurrence of one or more uncertain
future events.
continuing operations
operations not classified as discontinued.
currency swap
an exchange of a deposit and a borrowing,
each denominated in a different currency,
for an agreed period of time.
derivatives
financial instruments used to reduce risk, the
price of which is derived from an underlying
asset, index or rate.
direct channels
methods of booking hotel rooms (both digital
and voice) not involving third party
intermediaries.
Director
a director of InterContinental Hotels
Group PLC.
EBIT
earnings before interest and tax.
EBITDA
earning before interest, tax, depreciation
and amortisation.
Employee Engagement survey
we ask our employees and those who work
in our managed hotels (excluding our joint
venture hotels) to participate in a survey to
measure employee engagement.
EU
the European Union.
euro or €
the currency of the European Economic
and Monetary Union.
exceptional items
items that are disclosed separately
because of their size or nature.
extended-stay
hotels designed for guests staying for periods
of time longer than a few nights and tending
to have a higher proportion of suites than
normal hotels (Staybridge Suites and
Candlewood Suites).
fee margin or fee-based margin
operating profit as a percentage of revenue,
excluding revenue and operating profit from
owned and leased hotels, managed leases,
Kimpton, and significant liquidated damages.
fee revenue
Group revenue excluding revenue from
owned and leased hotels, managed leases,
and significant liquidated damages.
franchisee
an operator who uses a brand under licence
from the brand owner, IHG.
goodwill
the difference between the consideration
given for a business and the total of the fair
values of the separable assets and liabilities
comprising that business.
Group or IHG
the Company and its subsidiaries.
Guest Heartbeat
IHG’s guest satisfaction measurement tool
used to measure brand preference and
guest satisfaction.
Guest Reservation System or GRS
our global electronic guest reservation
system, currently HOLIDEX, IHG’s
proprietary system.
hedging
the reduction of risk, normally in relation to
foreign currency or interest rate movements,
by making offsetting commitments.
hotel revenue
revenue from all revenue-generating activity
undertaken by managed and owned and
leased hotels, including room nights, food
and beverage sales.
IASB
International Accounting Standards Board.
ICETUS
InterContinental Executive Top-Up Scheme.
IC Plan
InterContinental Hotels UK Pension Plan.
IFRS
International Financial Reporting Standards
as adopted by the EU and issued by the IASB.
indirect channels
online travel intermediaries and business
and leisure travel agents.
interest rate swap
an agreement to exchange fixed for floating
interest rate streams (or vice versa) on a
notional principal.
liquidated damages
payments received in respect of the early
termination of franchise and management
contracts, where applicable.
176 IHG Annual Report and Form 20-F 2015