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IHG reports growth in US and UK

The US helped InterContinental Hotels report a strong performance in the third quarter of the year.


Overall revenue per available room [revpar] rose by 7%, with the level in the US up by 8.7% and 6.1% in Europe.


The UK delivered double digit revpar growth reflecting strong performance in both London and the regions, the company said.


Chief executive Richard Solomons said: “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 rev par was up 8.7%, demonstrating the excellent momentum in the business and the success of our winning strategy.


“We continue to focus on enhancing our scale position and developing our high quality pipeline, opening 8,000 rooms in the period, signing 16,000 rooms into the system, and delivering solid net system size growth of 2.7%.


“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.”


He added: “Whilst some of our markets face heightened uncertainty and risks, we continue to see strong momentum in the business and remain encouraged by current trading and positive booking trends.”

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