InterContinental Hotels Group (IHG) said Wednesday that growth in revenue per available room (RevPAR) for its U.S. hotels slowed during the third quarter because of the days of the week certain holidays fell on versus a year earlier. Higher-end brands such as IHG's flagship badge and Hotel Indigo led the gains.
IHG's U.S. RevPAR rose 4.6% from a year earlier, as average room rates rose 4%. For the first nine months of the year, IHG's U.S. RevPAR was up 6.3% from a year earlier.
Revenue growth slowed in part because the 4th of July fell in the middle of the week this year, IHG said.
As for IHG's brands, Hotel Indigo had the fastest growth with an 8.6% RevPAR increase in the third quarter. The InterContinental brand's RevPAR rose 8.4%.
IHG's Crowne Plaza, Holiday Inn and Holiday Inn Express badges had third-quarter RevPAR gains of between 4% and 5% for the quarter. Follow Danny King on Twitter @dktravelweekly.