IHG Hotels & Resorts – which owns the InterContinental, Holiday Inn and Crowne Plaza brands – has reported a 1.5% year-on-year increase in RevPAR (revenue per available room) for the third quarter of the year and said it is on track to meet its financial targets for
this year.
The group saw growth in all major geographical regions, but particularly in China, where it enjoyed a 10.3% jump in RevPAR, which is a key growth metric for the hotel industry.
Elie Maalouf, IHG Hotels & Resorts CEO, 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.”
