Hotel operating giant, IHG has reported that for third quarter trading, global RevPAR was up 7.1% and 6.6% Q3 YTD. Comparable RevPAR was up 2.3%, and up 2.2% Q3 YTD.
The company opened 11k rooms, increasing net system size 4.1% YoY to 786k rooms. During the period, 20k rooms (137 hotels) signed and there are 235k rooms in the pipeline.
The UK delivered Q3 RevPAR growth of 4% with brands driving outperformance in both London, up 3%, and the provinces, up 5%.
Keith Barr, Chief Executive of InterContinental Hotels Group PLC, said, “We have delivered a good third quarter performance; RevPAR increased by 2.3% and net rooms growth of 4.1% was our strongest since 20102.
'We also signed hotels into our pipeline at the fastest third quarter rate since 2008, and have made an excellent start with our plans to accelerate the growth of our brands around the world.
'Looking ahead, despite macro-economic and geopolitical uncertainties around the world, we remain confident in the outlook for the remainder of the year.”
