IHG reports nearly 4% increase in average hotel rate

The average daily rate increased 3.8% worldwide at InterContinental Hotels Group properties in the second quarter, IHG said in its second-quarter financial report.

The average daily rate rose 4.7% in the Americas, 4.1% in greater China and 0.9% in Europe.

Occupancy increased 1.5 percentage points worldwide. Revenue per available room was up 6.1% worldwide, but only 1.5% in Europe. 

IHG's operating profit for the quarter was $168 million, up from $157 million in the second quarter of 2011.

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