IHG Shares Gain Analyst Support; Goldman Adds Stock to Conviction List

InterContinental Hotels Group (LON: IHG) has drawn some positive analyst sentiment in recent weeks, with three major banks turning more bullish on the stock despite its muted start to 2026.

The shares are up just 0.3% so far this year, but have risen more than 20% over the past six months and continue to trend higher. IHG is set to report its full-year results on February 17.

On Monday, Goldman Sachs added IHG to its European Conviction List in its latest monthly update, arguing the hotel group is positioned to grow faster than its U.S. peers.

The call reflects rising confidence in IHG’s ability to outperform within the global travel recovery.

That view is echoed by Berenberg, which upgraded the stock to Buy in January as part of its 2026 leisure outlook. The bank expects U.S. revenue per available room to improve this year, supporting earnings across the sector after a period of softness.

Jefferies also shifted to a Buy rating in December, pointing to a favourable backdrop for hotels even as broader consumer growth moderates.

The firm highlighted that sector fundamentals are no longer being driven solely by RevPAR, citing strong structural demand trends. Jefferies said the post-pandemic travel surge is proving durable, helped by rising experience-led spending, infrastructure investment and the expansion of the global middle class.

Although performance has cooled in the last few weeks, analysts broadly expect IHG to remain supported by resilient travel demand and a strengthened long-term growth profile, reinforcing the bullish momentum.