Americas growth leads IHG’s boost
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A stronger performance for InterContinental Hotel Group’s (IHG) properties in the Americas has helped the hotel giant post a boost in its results so far this year.
The region’s RevPAR (revenue per available room) was up 8.4% for the first nine months of the year, compared to 5.3% in Europe and 4.1% in Asia, Middle East & Africa.
During the three months up to the end of September the group opened 8,000 rooms so it now have more than 697,000 around the world, with another 16,000 signed up in the quarter.
In the Americas the value-driven Holiday Inn and Crowne Plaza brands led the growth particularly among leisure and group travel, while in Europe London and Germany led the increase.
“We delivered our best quarterly RevPAR performance in over two years with growth in each of our four regions. Performance in the US was particularly strong where RevPAR was up 8.7%, demonstrating the excellent momentum in the business and the success of our winning strategy,” said Richard Solomons, chief executive of IHG.
He added: “Our preferred brands reached several important milestones in the quarter. Staybridge Suites became the fastest growing brand in its segment to reach 200 open hotels, and Hotel Indigo opened its 60th hotel. InterContinental Hotels and Resorts reinforced its position as the largest global luxury hotel brand with record quarterly signings.”
Booking trends are ‘encouraging’ with the group’s financial position ‘robust’. The group has 1, 198 hotels under construction amounting to 190,000 rooms.
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