BUZZ-InterContinental Hotels: room for M&A

** InterContinental Hotels (IHG) among top FTSE 100 risers & within a whisker of a record as joins burgeoning list of recently mooted acquisition targets

** As the US hotel cycle peaks (with occupancy, real pricing & RevPAR at all-time highs & supply building), cos could look to buy growth & over-pay in the M&A market, with IHG looking particularly vulnerable, Jefferies says

** Strong pipeline of new rooms & its brand & geographic mix could be attractive to, say, Starwood where it would fill a strategic gap, the broker says; lifts recommendation for IHG to "hold"

** Global M&A posts its highest Q1 this year since 2007 amid favourable financing conditions (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)