One FTSE 100 share I want to buy for my portfolio is InterContinental Hotel Group (LSE: IHG). It is a leading hotel operator that owns a number of well-known brands, including Intercontinental, Holiday InnAND Kimpton.

Is it a good time to buy a few more shares? I think so – the stock is down 17% from its 2024 peak, and executives have been buying shares recently.

Lots of insider buys

It’s often worth taking a closer look when executives buy stock. That’s because these “insiders” have more information about their companies than the rest of us.

Meanwhile, insiders buy stocks for one reason only – to make money. They won’t invest their hard-earned money in a company’s stock if they think the stock price is going down.

Looking at InterContinental’s latest regulatory filings, I see that three executives have bought shares this month. Those who have invested in the company include:

• Chairwoman Deanna Oppenheimer – 2,000 American Depositary Receipts (ADRs) with a total value of $174,000
• Non-executive Director Byron Grote – 1,000 ADRs worth $85,000
• Sir Ron Kalifa, Non-Executive Director – 679 ordinary shares worth £60k

In total, the three insiders invested around £260,000 in the company.

Trade skill

It is worth noting that £260k in director buys is not huge. Sometimes insiders spend millions on company shares.

However, it is engaging that two insiders (Oppenheimer and Grote) made good timely purchases last year. Both bought shares shortly before the InterContinental share price rose from £50 to £85.

Long-term growth potential

Apart from the directors issue, I believe these shares have many advantages at the moment.

The latest half-year results were solid, with revenue up 7% and adjusted earnings per share up 12%. As a result of these results, the company increased its dividend by 10%.

Looking ahead, the company said it has a global pipeline of 330,000 rooms (35% of its current size), so there seems to be plenty of room for growth.

As for valuation, it seems quite reasonable to me. After the recent share price weakness, the forward P/E ratio, using the consensus earnings forecast for 2025, is 18.8.

For a highly profitable company with significant long-term growth potential (I expect it will benefit from the retirement of the baby boom generation), I see this as attractive.

Of course, a near-term decline in consumer spending is a risk. The uncertainty here is one reason stocks have pulled back recently.

I don’t think this is a major issue for InterContinental, as it tends to cater to more affluent travelers. But it’s a risk factor I’m monitoring.

Should I buy it?

Putting it all together, I decided to buy more shares for my portfolio. The valuation is reasonable and I am encouraged by the trading director.

That said, I wouldn’t be surprised to see more market volatility in the coming days and weeks (especially given the geopolitical tensions in the Middle East). So I’ll wait a bit (but not too long) and see if I can get an even better price.