IHG vs. RCL: InterContinental Hotels vs. Royal Caribbean Cruises Stock Comparison

November 11, 2026

How do InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL) are both classified in the Hotels, Resorts & Cruise Lines sub-industry within the broader Hotels, Restaurants & Leisure industry, placing them in the closest GICS peer bucket.

Royal Caribbean Cruises (RCL) trades as ordinary local shares, while InterContinental Hotels (IHG) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Profile Item	IHG	RCL
Name	InterContinental Hotels Group PLC ADR	Royal Caribbean Cruises Ltd.
Country/Region	United Kingdom	United States
GICS Sector	Consumer Discretionary	Consumer Discretionary
GICS Industry Group	Consumer Services	Consumer Services
GICS Industry	Hotels, Restaurants & Leisure	Hotels, Restaurants & Leisure
GICS Sub-Industry	Hotels, Resorts & Cruise Lines	Hotels, Resorts & Cruise Lines
Market Capitalization	26.05 billion USD	87.51 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	April 10, 2003	April 28, 1993
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

IHG

RCL

GSPC

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
Total Return (1Y)	39.88%	35.04%
Total Return (3Y, Annualized)	37.41%	55.86%
Total Return (5Y, Annualized)	22.58%	30.86%

Risk Profile

Drawdown History

IHG

RCL

GSPC

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
Volatility (1Y, Annualized)	25.00%	47.73%
Beta (5Y)	1.09	1.82
Max Drawdown (5Y)	-32.78%	-65.76%
Avg. Volume (3M)	213.26K	2.35M

Risk-Adjusted Performance

Risk-Return Positioning

IHG and RCL are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
Sharpe Ratio (1Y)	1.42	0.64
Sortino Ratio (1Y)	2.31	1.10

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Royal Caribbean Cruises (RCL) earns 41.29% on shareholders’ equity, ranked against its industry; InterContinental Hotels (IHG) has no ROE this period.

IHG

Consumer Services industry group

Max: 76.75%
Q3: 34.07%
Median: 15.90%
Q1: 3.23%
Min: -40.61%
IHG: --

RCL

Consumer Services industry group

41.29%

Max: 76.75%
RCL: 41.29%
Q3: 34.07%
Median: 15.90%
Q1: 3.23%
Min: -40.61%

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): IHG does not report ROE, so it has no value marker; RCL is benchmarked against the Consumer Services industry group.

Net Margin (TTM)

For every dollar of sales, both InterContinental Hotels (IHG) at 13.40% and Royal Caribbean Cruises (RCL) at 23.79% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

IHG

Consumer Services industry group

13.40%

Max: 25.52%
IHG: 13.40%
Q3: 12.95%
Median: 6.63%
Q1: 1.46%
Min: -14.36%

RCL

Consumer Services industry group

23.79%

Max: 25.52%
RCL: 23.79%
Q3: 12.95%
Median: 6.63%
Q1: 1.46%
Min: -14.36%

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their net margin against the Consumer Services industry group benchmark.

Operating Margin (TTM)

Both InterContinental Hotels (IHG) at 25.12% and Royal Caribbean Cruises (RCL) at 33.61% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

IHG

Consumer Services industry group

25.12%

Max: 49.05%
IHG: 25.12%
Q3: 24.35%
Median: 14.23%
Q1: 5.67%
Min: -16.47%

RCL

Consumer Services industry group

33.61%

Max: 49.05%
RCL: 33.61%
Q3: 24.35%
Median: 14.23%
Q1: 5.67%
Min: -16.47%

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their operating margin against the Consumer Services industry group benchmark.

Profitability Metrics

Profitability metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
ROE (TTM)	--	41.29%
ROA (TTM)	15.51%	7.78%
Net Margin (TTM)	13.40%	23.79%
Operating Margin (TTM)	25.12%	33.61%
Gross Margin (TTM)	60.97%	50.25%

Growth

Revenue Growth

Both InterContinental Hotels (IHG) at 5.40% and Royal Caribbean Cruises (RCL) at 8.79% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Royal Caribbean Cruises (RCL) reports EPS growth of 41.91%, ranked against its industry; InterContinental Hotels (IHG) has no EPS growth figure this period.

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
Revenue Growth (YoY)	5.40%	8.79%
Revenue Growth (3Y CAGR)	10.06%	26.59%
EPS Growth (YoY)	--	41.91%
EPS Growth (3Y CAGR)	33.17%	--

Financial Strength

Current Ratio (MRQ)

Both InterContinental Hotels (IHG) at 0.66 and Royal Caribbean Cruises (RCL) at 0.22 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

IHG

Consumer Services industry group

0.66

Max: 3.41
Q3: 1.85
Median: 1.06
Q1: 0.72
IHG: 0.66
Min: 0.22

RCL

Consumer Services industry group

0.22

Max: 3.41
Q3: 1.85
Median: 1.06
Q1: 0.72
RCL: 0.22
Min: 0.22

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their current ratio against the Consumer Services industry group benchmark.

Debt / Equity (MRQ)

Only one side’s leverage can be read here: Royal Caribbean Cruises (RCL) carries debt-to-equity ratio of 1.94 against its industry range, while InterContinental Hotels (IHG) reports no figure this period.

IHG

Consumer Services industry group

Max: 6.12
Q3: 2.93
Median: 1.29
Q1: 0.37
Min: 0.01
IHG: --

RCL

Consumer Services industry group

1.94

Max: 6.12
Q3: 2.93
RCL: 1.94
Median: 1.29
Q1: 0.37
Min: 0.01

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): IHG does not report debt-to-equity ratio, so it has no value marker; RCL is benchmarked against the Consumer Services industry group.

Financial Strength Metrics

Financial strength metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
Current Ratio (MRQ)	0.66	0.22
Debt / Equity (MRQ)	--	1.94
Net Debt / EBITDA	2.89	3.12

Dividends

Dividend Yield (TTM)

Both InterContinental Hotels (IHG) at 1.08% and Royal Caribbean Cruises (RCL) at 1.70% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

IHG

Consumer Services industry group

1.08%

Max: 4.10%
Q3: 1.82%
IHG: 1.08%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

RCL

Consumer Services industry group

1.70%

Max: 4.10%
Q3: 1.82%
RCL: 1.70%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their dividend yield against the Consumer Services industry group benchmark.

Dividend Payout Ratio (TTM)

Royal Caribbean Cruises (RCL) at 32.54% pays out a band-typical share of earnings, while InterContinental Hotels (IHG) at 39.21% distributes more than its industry norm — less retained, thinner cover.

IHG

Consumer Services industry group

39.21%

Max: 89.80%
IHG: 39.21%
Q3: 36.83%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

RCL

Consumer Services industry group

32.54%

Max: 89.80%
Q3: 36.83%
RCL: 32.54%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their payout ratio against the Consumer Services industry group benchmark.

Dividend Metrics

Dividend metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
Dividend Yield (TTM)	1.08%	1.70%
Dividend Payout Ratio (TTM)	39.21%	32.54%

Valuation

P/E Ratio (TTM)

Royal Caribbean Cruises (RCL) at 19.36 is near its industry’s usual P/E ratio, while InterContinental Hotels (IHG) at 37.95 sits in the richer quartile — IHG needs stronger growth or earnings quality to justify the premium.

IHG

Consumer Services industry group

37.95

Max: 71.70
IHG: 37.95
Q3: 37.12
Median: 21.88
Q1: 13.00
Min: 5.72

RCL

Consumer Services industry group

19.36

Max: 71.70
Q3: 37.12
Median: 21.88
RCL: 19.36
Q1: 13.00
Min: 5.72

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their P/E ratio against the Consumer Services industry group benchmark.

P/S Ratio (TTM)

Both InterContinental Hotels (IHG) at 4.89 and Royal Caribbean Cruises (RCL) at 4.57 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

IHG

Consumer Services industry group

4.89

Max: 6.40
IHG: 4.89
Q3: 3.01
Median: 1.54
Q1: 0.74
Min: 0.08

RCL

Consumer Services industry group

4.57

Max: 6.40
RCL: 4.57
Q3: 3.01
Median: 1.54
Q1: 0.74
Min: 0.08

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their P/S ratio against the Consumer Services industry group benchmark.

P/B Ratio (MRQ)

InterContinental Hotels (IHG) reports a negative P/B ratio of -53.91, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Royal Caribbean Cruises (RCL) reports 7.47, ranking against industry peers normally.

IHG

Consumer Services industry group

-53.91

Max: 12.02
Q3: 5.58
Median: 2.37
Q1: 1.09
Min: -4.51
IHG: -53.91

RCL

Consumer Services industry group

7.47

Max: 12.02
RCL: 7.47
Q3: 5.58
Median: 2.37
Q1: 1.09
Min: -4.51

InterContinental Hotels (IHG) vs. Royal Caribbean Cruises (RCL): A comparison of their P/B ratio against the Consumer Services industry group benchmark.

Valuation Metrics

Valuation metrics for InterContinental Hotels (IHG) and Royal Caribbean Cruises (RCL)
Metric	IHG	RCL
P/E Ratio (TTM)	37.95	19.36
P/S Ratio (TTM)	4.89	4.57
P/B Ratio (MRQ)	-53.91	7.47
Free Cash Flow Yield (TTM)	3.51%	-0.06%