IHG reports Q3 rebound for European hotels

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The InterContinental Porto Palacio das Cardosas in Porto, Portugal.
The InterContinental Porto Palacio das Cardosas in Porto, Portugal. Photo Credit: Shutterstock

InterContinental Hotels Group (IHG) reported that third-quarter revenue per available room increased 4.8% due to a strong rebound in Europe and continued strength in the Americas.

RevPAR in Europe and the Americas were up 7.8% and 4.3%, respectively. Gains in those regions more than offset weakness in IHG’s greater China region, particularly Hong Kong and Macau.

Greater China RevPAR fell 0.7% from a year earlier. In Hong Kong and China, RevPAR declined more than 10%.  In mainland China’, IHG said RevPAR grew 2.1%.

Brand-wise, the Crowne Plaza brand showed the most demand growth, with a RevPAR increase of 7.7%. Hotel Indigo RevPAR advanced 6.3%, while Holiday Inn and Holiday Inn Express RevPAR rose 4.1% and 3.7%, respectively.

Kimpton Hotels & Restaurants, which IHG acquired earlier this year, had a 2.3% RevPAR increase.

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