InterContinental Hotels Q3 RevPAR rises 1.5%

22nd Oct 2024 07:56

(Sharecast News) - InterContinental Hotels Group reported a jump in third-quarter room revenue on Tuesday, as good business demand and strength in the US and EMEAA helped to offset a weaker performance in China.

Global revenue per available room rose 1.5%. Chief executive Elie Maalouf said this reflected "the strength of our globally diverse footprint, healthy business demand and a record period for groups bookings".

RevPAR in the Americas was up 1.7%, while EMEAA saw a 4.9% increase, but Greater China saw RevPAR decline 10.3%.

IHG said the trading performance in Greater China reflected "the unusually strong comparatives" a year ago, and that it remains "very encouraged" by the longer term demand drivers for the region.

Chief executive Elie Maalouf said: "We are pleased with the latest trading performance and another strong period of development activity, and we are on track to finish 2024 in line with market expectations."