InterContinental Hotels Group reported that fourth-quarter hotel demand rose, with the Americas region leading the way.
The U.K.-based company said revenue per available room (RevPAR) advanced 3.9% from a year earlier, primarily on rate increases. RevPAR in the Americas jumped 5.7%.
The Americas accounts for two-thirds the company’s 675,000 managed and franchised rooms.
RevPAR at InterContinental hotels in the U.S. jumped 9.4%, while RevPAR at Holiday Inn and Holiday Inn Express hotels in the U.S. advanced 6.5% and 5.5%, respectively.
The U.S. average daily rate rose 4% from a year earlier, while occupancy advanced 1.2 percentage points.
RevPAR in the Europe and Asia-Middle East-Africa regions rose 1.2% and 1.8%, respectively, while Greater China’s RevPAR fell 0.3%.
For the year, revenue at IHG rose 3.8% to $1.84 billion. Operating profit increased 9.8% to $614 million. IHG doesn’t report GAAP net income figures.
IHG said it has agreements to open 15 hotels under its new Hualuxe upscale brand in China.
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