InterContinental Hotels room revenue falls amid tougher backdrop in US, China

  • Fri 18 Oct 2019 07:29

    InterContinental Hotels said revenue per available room fell 0.8% in the third quarter as tougher trading conditions in the US and China hurt growth. For the three months to 30 September, revenue per available room (RevPar), a key industry measure, fell 0.8%, with Revpar in the Americas down 0.6%, China down 6.1% and EMEAA up 0.2% from a year earlier. Occupancy was flat in the quarter. The weakness in China was exacerbated by civil unrest in Hong Kong, where RevPAR was down 36%. The company opened 13,000 rooms during the quarter, taking its pipeline to 289,000 rooms. 'Despite the weaker RevPAR environment, and the challenges some of our markets are currently experiencing, we remain confident in our financial outcome for the rest of the year,' the company said.

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InterContinental Hotels Group (IHG)

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