VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Sunday, January 11, 2026

Stock Comparison

Auckland International Airport Limited vs InterContinental Hotels Group PLC

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Auckland International Airport Limited

AIA · NZX

Market cap (USD)$14.4B
Gross margin (TTM)54.4%
Operating margin (TTM)55%
Net margin (TTM)23.3%
SectorIndustrials
IndustryAirlines, Airports & Air Services
CountryNZ
Data as of2025-12-28
Moat score
74/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Auckland International Airport Limited's moat claims, evidence, and risks.

View AIA analysis

InterContinental Hotels Group PLC

IHG · London Stock Exchange

Market cap (USD)$18.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorConsumer
Industry
CountryGB
Data as of2026-01-10
Moat score
57/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into InterContinental Hotels Group PLC's moat claims, evidence, and risks.

View IHG analysis

Comparison highlights

  • Moat score gap: Auckland International Airport Limited leads (74 / 100 vs 57 / 100 for InterContinental Hotels Group PLC).
  • Segment focus: Auckland International Airport Limited has 3 segments; InterContinental Hotels Group PLC has 5 segments (36% in Fee business (franchise, management and ancillary fees)).
  • Primary market structure: Monopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Auckland International Airport Limited has 5 moat types across 3 domains; InterContinental Hotels Group PLC has 8 across 3.

Primary market context

Auckland International Airport Limited

Aeronautical (regulated airport services)

Market

Aeronautical airport services at Auckland Airport (airfield landing/parking, passenger terminal and related charges)

Geography

New Zealand (Auckland catchment)

Customer

Airlines and aviation operators (direct customers); passengers indirectly

Role

Airport infrastructure operator

InterContinental Hotels Group PLC

Fee business (franchise, management and ancillary fees)

Market

Branded hotel franchising and management services

Geography

Global

Customer

Hotel owners and developers

Role

Franchisor and hotel manager (asset-light brand platform)

Revenue share

36%

Side-by-side metrics

Auckland International Airport Limited
InterContinental Hotels Group PLC
Ticker / Exchange
AIA - NZX
IHG - London Stock Exchange
Market cap (USD)
$14.4B
$18.8B
Gross margin (TTM)
54.4%
n/a
Operating margin (TTM)
55%
n/a
Net margin (TTM)
23.3%
n/a
Sector
Industrials
Consumer
Industry
Airlines, Airports & Air Services
n/a
HQ country
NZ
GB
Primary segment
Aeronautical (regulated airport services)
Fee business (franchise, management and ancillary fees)
Market structure
Monopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
57 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Network
Last update
2025-12-28
2026-01-10

Moat coverage

Shared moat types

Distribution ControlLong Term Contracts

Auckland International Airport Limited strengths

Permits Rights Of WayCapacity MoatGeographic Natural

InterContinental Hotels Group PLC strengths

Brand TrustScale Economies Unit CostTwo Sided NetworkPass-through reimbursement revenueAsset-heavy hotel operations (limited moat)Immaterial ancillary activity

Segment mix

Auckland International Airport Limited segments

Full profile >

Aeronautical (regulated airport services)

Monopoly

n/a

Retail concessions and car parking

Quasi-Monopoly

n/a

Commercial property and precinct development

Competitive

n/a

InterContinental Hotels Group PLC segments

Full profile >

Fee business (franchise, management and ancillary fees)

Oligopoly

36%

System Fund (marketing, reservations and loyalty assessments)

Monopoly

32.7%

Reimbursable revenues (managed hotel staff reimbursements)

Competitive

20.3%

Owned, leased and managed lease hotels

Competitive

10.5%

Insurance activities (ancillary)

Competitive

0.5%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.