for china and ihg, it'sa 8% — not huge.h barr spent four years as the ceo of greater china. they know the market. but it's not about now — they're hoping to contain this, as everyone is. it's interesting to see how it's impacted from a short—term perspective but, as you say, for the long—term, for ihg and other companies like this, the tourism industry in china is huge, isn't it, looking forward ? huge, isn't it, looking forward? yes. china's where everyone's looking to offset. at the moment in the us, we're likely to see results from ihg which will be very similar to everywhere else — where they'll see pressure in the us — supply is now outstripping demand or approaching that area. so what you mean by that is... they need to be more global. in the us, the number of hotel rooms available outweigh the number of people who are trying to book them. so they're going to make less money in the us. is the market more saturated in developed economies? it's not saturated in terms of the brands — holiday inn and holiday inn express —

ihg, the owner of holiday inn, crowne plaza and intercontinental hotel brands has unveiled its latest by 8% in 2019. investors will now be closely watching for the impact the coronavirus outbreak will have on the firm. the intercontinental hotels group has 443 hotels in china, hong kong, macau and taiwan — with four in wuhan where the outbreak of the deadly virus started. well a little earlier i spoke to keith barr, chief executive of the intercontinental hotels group and asked him if his hotel's in wuhan are still open. you know what is amazing? i'm so incredibly proud of our colleagues, they are sharing stories, hotels housing medical personnel who have flown in to help individuals affected by this virus in one of the hotels was making meals for workers building new hotels. 0ur hotels was making meals for workers building new hotels. our team is they're doing extraordinary things day in and day out. we focus on china first. hong kong trading has been very challenging because of the u nsettled been very challenging because of the unsettled nature there and of course 110w unsettled na

the hotels stuck out to me we spoke to ihg, they were saying they haven't seen any impact outside of asia from this you look at the warnings and the anecdotes from people around the travel plan and businesses how much weight should investors put on managers at this point. >> i think all of the statements are sort of backward looking you see all the earnings releases are sort of incorporating one month of coronavirus. it may last another six months even managements have no clue what is going to happen. if i were a manager, i would drop my outlook for 2020 we'll do our best, it may be a lost year. hopefully we'll find a cure and 2021 will be better but not too hopeful in terms of 2020 for earnings >> thank you for your thoughts pleased to say you are here with us for the full hour, founding partier and manager. >>> a major u.s. index has delivered higher returns than private equity returns in the s&p enjoyed returns of 15.5 over the last 10 years to june 2019. private equity saw returns of 15.3%. one of the authorities of that report does not think private equity will lag much longer.

you are still underperforming marriott, ihg, nh.ccor is the white line. >> you are talking stock price. gross is better than anybody else. matt: do you expect to this white line to start climbing to the level where the others are? >> i've been hoping for it for the last five years, so i'm still an optimist. one day, people are going to be surprised, it will bounce back sharply. that day is probably turning around the corner. --ause of my matt: you are restructuring your loyalty program. you are pushing more to high-end lifestyle assets. sometimes, that is difficult for customers. how do you expect this to work out? >> by giving proof of it. if you want a program to be modern, fresh, trendy, sexy, whatever, you need to partner with what people want. they want sports, entertainment, and they want to go into food. we have done a big partnership in entertainment. we have done a big partnership with an american food festival. we have done a local jersey sponsor for sports. when you basically have those three offers with special appearanc