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IHG reports revpar boost amid 'strong' demand for travel

UK revenue per available room (revpar) at InterContinental Hotels Group (IHG) rose 14% last year, just shy of the hotel company's global revpar growth of 16%.

UK revpar was also up 17% compared to 2019 and up 5% in Q4 of 2023 compared to last year's figures.

In its full year results for 2023, IHG's profit before tax almost doubled from $540m (£428m) in 2022 to over $1b (£0.8b) in 2023, while adjusted EBITDA rose from $896m (£710m) to $1.1b (£861m).

Across the board, IHG saw 'record levels' in conversions, with 37% of combined signings and openings activity in 2023 represented in this market.

At the end of 2023, IHG revealed it has 6,363 hotels globally, after it removed 76 hotels over the past year.

IHG owns and operates 19 hotel brands in more than 100 countries.