InterContinental Hotels Group PLC Announces Third Quarter Americas RevPAR Growth at Annual Conference for Hotel Owners
IHG comparable US RevPAR grew 8.0% in the third quarter driven by occupancy growth of 3.0 percentage points and rate growth of 3.4%, an improvement from Q2 rate growth of 2.8%.
InterContinental Hotels Group's annual conference for hotel owners in the Americas region commences this week. Details of revenue per available room (RevPAR) for IHG's brands in the US and Americas for July, August and September 2011, for the third quarter 2011 and for the nine month period to 30 September 2011 will be disclosed at this conference and are tabled below.
The US industry experienced record levels of room night demand in the third quarter as leisure travellers remained resilient through the summer and demand from business travellers stayed strong. IHG comparable US RevPAR grew 8.0% in the third quarter driven by occupancy growth of 3.0 percentage points and rate growth of 3.4%, an improvement from Q2 rate growth of 2.8%.
On a total RevPAR basis, which includes the benefit of new hotels and therefore allows a direct comparison to the Smith Travel industry data, IHG third quarter US RevPAR grew 9.5%, outperforming the US industry up 7.9%. On this same basis, Holiday Inn and Holiday Inn Express RevPAR grew 10.4% and 9.2% respectively, outperforming the US upper midscale segment due to the continued benefits of the Holiday Inn relaunch.
IHG’s full third quarter results will be announced at 7am UK time on 8 November when further commentary will be provided.
|
US Comparable RevPAR Growth (constant currency) |
July 2011 |
August 2011 |
Sept 2011* |
Third Quarter 2011 |
Nine months to 30 Sept 2011 |
|
InterContinental |
7.1% |
10.6% |
10.8% |
9.5% |
11.1% |
|
Crowne Plaza |
4.1% |
7.6% |
9.6% |
7.0% |
6.4% |
|
Holiday Inn |
6.4% |
6.6% |
8.3% |
7.1% |
7.2% |
|
Holiday Inn Express |
7.3% |
8.6% |
10.4% |
8.7% |
8.5% |
|
Staybridge Suites |
6.1% |
5.6% |
7.3% |
6.3% |
8.5% |
|
Candlewood Suites |
10.5% |
10.9% |
11.0% |
10.8% |
10.5% |
|
Hotel Indigo |
9.9% |
9.6% |
13.0% |
10.8% |
15.6% |
|
Total US |
6.7% |
7.9% |
9.5% |
8.0% |
8.1% |
*Note that September results benefited from the impact of change in timing of certain religious holidays which impact the results of September and October.
|
Americas Comparable RevPAR Growth (constant currency) |
July 2011 |
August 2011 |
Sept 2011* |
Third Quarter 2011 |
Nine months to 30 Sept 2011 |
|
InterContinental |
6.8% |
8.0% |
10.2% |
8.4% |
8.5% |
|
Crowne Plaza |
3.6% |
6.2% |
8.0% |
5.9% |
5.7% |
|
Holiday Inn |
6.5% |
6.3% |
7.5% |
6.7% |
6.7% |
|
Holiday Inn Express |
7.2% |
8.3% |
10.1% |
8.5% |
8.2% |
|
Staybridge Suites |
6.0% |
5.4% |
7.6% |
6.3% |
8.7% |
|
Candlewood Suites |
10.6% |
10.7% |
10.9% |
10.7% |
10.5% |
|
Hotel Indigo |
10.2% |
8.6% |
12.9% |
10.6% |
14.8% |
|
Total Americas |
6.6% |
7.3% |
8.9% |
7.6% |
7.6% |
*Note that September results benefited from the impact of change in timing of certain religious holidays which impact the results of September and October.
Logos, product and company names mentioned are the property of their respective owners.
- IHG Announces Management Agreement for InterContinental Muscat Hills Golf Resort in Oman
- IHG Signs 30-year Management Agreement for the InterContinental Dhaka.
- IHG Returns to Russia
- InterContinental Reports 26% Growth in Operating Profit for 2011
- Intercontinental Returns to Russia with the Opening of Intercontinental Moscow Tverskaya
- Supertel Hospitality Reports 2012 First Quarter Results
- Summit Hotel Properties First Quarter Sales Increase 23.5%
- Meliá Hotels International Reports First Quarter Euro4.7 Million Profit (+0.2%)
- Home Inns First Quarter 2012 Revenue Increased 66% Year over Year to RMB 1.26 Billion
- China Lodging Group First Quarter Net Revenues UP 53.0%
