Global hotel giant IHG Hotels & Resorts has reported a strong performance for the first half of the year, with profits soaring and long-term growth prospects looking positive.
The group – which owns the InterContinental, Holiday Inn and Crowne Plaza hotel brands amongst others – said first half underlying operating profit was up 12%, year-on-year, at $535m; while group revenue jumped 4% to just over $2.3bn.
Elie Maalouf, CEO, IHG Hotels & Resorts, said: “With thanks to our teams around the world, we are making great progress on the delivery of our strategic priorities and the clear framework to drive future value creation that we set out in February. RevPAR growth accelerated in the latest quarter, reflecting a strong US rebound in Q2 and the breadth of our global footprint, and development activity continues to increase.”
“We celebrated 126 hotel openings in the half and the signing of a record-breaking 384 properties, equivalent to more than two a day.”
