Tender Offer - Pricing

InterContinental Hotels Group PLC
07 December 2004




InterContinental Hotels Group PLC
7 December 2004



                       InterContinental Hotels Group PLC
                                (the "Company")

                   €600,000,000 4.75 per cent. Notes due 2010
                  (ISIN: XS0178293196; Common Code: 017829319)
                                 (the "Notes")



NOTICE IS HEREBY GIVEN that, further to the announcement of the result of the
Company's Tender Offer earlier today, the Tender Price in respect of those Notes
validly tendered in the Tender Offer was determined at 11.00 a.m. (CET) (10.00
a.m. (GMT)) today, as follows:

Cash price for Notes validly tendered on or before the Early Tender Deadline of
5.00 p.m. (CET) (4.00 p.m. (GMT)) on 24 November 2004 (the "Early Tender
Purchase Price"): €106.639.

Cash price for Notes validly tendered on or before the Closing Date of 5.00 p.m.
(CET) (4.00 p.m. (GMT)) on 3 December 2004 (the "Purchase Price"): €105.989.

Payment of the Early Tender Purchase Price or the Purchase Price, as applicable,
will be made on 9 December 2004 as described in the Notice of Terms of Tender
Offer dated 11 November 2004 (the "Tender Offer Notice").

Terms used in this Notice and not defined herein shall have the same meaning
given to them in the Tender Offer Notice.

As announced earlier today, the Company will redeem on 7 January 2005 (the "
Redemption Date") all of the above Notes which have not been tendered pursuant
to the Tender Offer made by the Company on 11 November 2004 at their principal
amount, together with interest accrued thereon to, but excluding, the Redemption
Date.

The Issuing and Paying Agent with respect to the Notes and the Tender Agent with
respect to the Tender Offer are as follows:

                            ISSUING AND PAYING AGENT

                                 HSBC Bank plc
                                8 Canada Square
                                 London E14 5HQ

                                  TENDER AGENT

                                 HSBC Bank plc
                                8 Canada Square
                                 London E14 5HQ


The Lead Dealer Manager with respect to the Tender Offer is as follows:

                              LEAD DEALER MANAGER

                          J.P. Morgan Securities Ltd.
                                125 London Wall
                                London EC2Y 5AJ

                        Telephone: [phone]
                           Fax: [phone]
                       email: [e-mail]





For further information, please contact:

IHG Contacts


Investor Relations:                                      [phone]
Media relations:                                         [phone]




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