International hotel group IHG Hotels & Resorts has reported strong continued recovery, with financial results for the first six months of this year showing robust growth.
IHG – which owns the InterContinental Hotels, Holiday Inn, Iberostar, and Crowne Plaza brands as well as others – reported a 27% year-on-year increase in first-half operating profit to $479m.
Group revenue jumped 24%, year-on-year, to $2.2bn.
Elie Maalouf, Chief Executive, IHG Hotels & Resorts, said: “Our teams have delivered strong results in the first half, with financial performance, hotel openings and signings all significantly above prior year comparisons. Travel demand is very healthy, with RevPAR improving year-on-year across all our markets and exceeding 2019 pre-pandemic peaks for four consecutive quarters. In the Americas and EMEAA regions, leisure demand has remained buoyant and business and group travel continued to strengthen, while in Greater China, demand has rebounded rapidly.”
