atans1

Greenwashing to distract from bad financials

In Environment on 08/08/2019 at 4:24 am

InterContinental Hotels last week came in for praise for announcing that it’s scrapping plastic toiletries.

On Monday Tuesday, it saw its share price fall 2% after it published its latest half-year results. The shares ended the day down 108 at 5,181 in London..

Still a UK broker, Hargreaves Lansdown, had very nice words for it despite its bad numbers

It’s good to see InterContinental future-proofing the brand, and the planet, by phasing out its plastic miniature toiletries across all of its sites. A number of hotels, including some American Holiday Inn Express hotels are already using bulk dispensers. Travellers who like to pocket the novelty-sized shampoos and soaps might be disappointed, but this is a good move on IHG’s part. With regulation around single use plastic ramping up on both sides of the Atlantic, and rival chains like Marriot making similar changes, it makes perfect sense for InterContinental to get in on the environmentally friendly action.

Was the scrapping plastic toiletries meant to help take the spotlight off the bad financials. True the share price was off, but could have been a lot worse. The goodwill from its scrapping plastic toiletries may have prevented deeper analysis of its problems.

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  1. Don’t think Hargreaves has much credibility after their Woodford fiasco where they kept his funds on their top 50 buy list all the way to suspension. LOL!!!

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