International Hotel Investments p.l.c. (IHI) is a hotel and real-estate developer and operator. Our focus is the establishment of Corinthia Hotels as a global luxury hotel brand. To do this IHI acquires, develops, owns and operates Corinthia Hotels. The Company also develops and manages hotels on behalf of partner owners and investors, and builds, owns and develops for sale – office, retail and residential property.
IHI has an issued capital of €615 million and an asset valuation of €1.6 billion. Listed on the Maltese Stock Exchange, IHI was established in 2000 as the public arm of the first incarnation of the Corinthia Hotels business – CPHCL (founded in 1962). The Group’s business portfolio includes 12 owned hotels in Brussels, Budapest, Lisbon, Prague, London, Malta (five hotels), St Petersburg and Tripoli.
IHI’s subsidiary companies and assets comprise:
Corinthia Hotels Limited
Corinthia Hotels Limited is the management company that operates 21 hotels in three continents, of which 13 are Corinthia Brand hotels. Four new hotels are under development – in Brussels, Doha, Bucharest and Dubai – which will open in 2020. In addition to hotel operations and ownership IHI derives rental income from commercial, office and residential real estate in Budapest, London, St Petersburg and Tripoli.
Corinthia Developments International
CDI originates and executes investments in real estate anchored by hotels and which are financed by third parties. CDI is currently engaged in securing investment and planning development projects in Cannes, Malta, New York and Moscow. All projects are tied to the creation of a five-star luxury Corinthia branded hotel at each location.
QP Management Limited
QP is a professional services firm that provides design, engineering and management solutions in the built environment.
Corinthia Caterers
Corinthia Caterers was created following IHI’s acquisition in 2017 of Island Hotels Group Holdings plc (IHG)’s catering businesses, including Island Caterers, Costa Coffee Malta, and Costa Coffee Spain.
A Land Bank
IHI owns significant land for future development in the Czech Republic, Hungary, Libya and Malta.
Recent financial performance
Between 2014 and 2017 IHI experienced a significant period of growth. In 2014 Gross Operating Profits from IHI’s owned and managed hotels stood at over €50 million; in 2017 GOP was recorded at €97 million. The story of IHI’s EBTIDA over the same period is equally impressive. In 2014 IHI’s EBTIDA stood at €33.3 million. In 2017 this figure had increased to about €64 million. The EBTIDA calculation reflects IHI’s direct share of profits from hotels in its portfolio, real estate developments and rentals, share of income from catering businesses, and the allocation of company costs such as property taxes, exchange rate losses/gains and central costs.