IHG Hotels & Resorts – which owns the Intercontinental Hotels, Crowne Plaza, Iberostar and Holiday Inn brands – has reported first quarter RevPAR (revenue per available room) growth of 2.6%, year-on-year.
The hotel group opened more than 6,200 rooms across 46 hotels during the three-month period and signed nearly 18,000 rooms across 129 properties to increase its pipeline by 6.6%, year-on-year. Compared to the same quarter last year, room openings rose by 11%.
Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, said: “There was an impressive performance in EMEAA which was up nearly +9%. The Americas, having already recovered very strongly, was broadly flat due to some adverse calendar timing, and Greater China grew by +2.5% and will continue to benefit from returning international inbound travel this year. Global occupancy moved up to 62% and average daily rate increased by a further +2% as pricing remained robust, reflecting the complete return of leisure, business, and group travel.”
