InterContinental Hotels Group (IHG) has posted a nine per cent rise in operating profit in the third quarter, up US $167 million, compared to the same period last year.
In the AMEA region, RevPAR was up 2.9%, while in the year-to-date figures, the region posted an increase of 6.1%.
This rise was due to occupancy being up 2.8% and room rates up 1.8% in the year-to-date figures, while in the third quarter results alone, they were up 1.2% and 1.1% respectively.
Globally in the third quarter, RevPAR was up 3.9% on the same period last year, and 5.6% year-to-date.
Richard Solomons, CEO of IHG, said: “We have delivered a solid set of results in the quarter with RevPAR growth across all regions and outperformance in key markets such as the US and Greater China.
“Our preferred brands have driven good underlying revenue growth despite a number of industry wide issues such as the timing of holidays, slowing economic growth in certain markets and the political leadership change in China.”
“The global economic environment remains challenging. However, our forward bookings remain encouraging and we are confident that IHG is well positioned to continue to outperform based on the considerable strengths of the business and our focused strategy for high quality growth,” he added.
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