IHG posts strong third-quarter revenues

InterContinental Hotels Group posted strong third-quarter revenues thanks largely to a return of business travel.

The company said that revPAR rose 6.7% for its brands in the Americas compared with the same period in 2009.

Increases were fuelled by occupancy growth of 3.8% and rate growth of 0.8%.

The company said the Holiday Inn and Holiday Inn Express saw strong results thanks to the re-launch of the franchise.

Third quarter revPAR growth at the hotels which had completed the re-launch swelled by 7.9% at Holiday Inn and 6.8% at Holiday Inn Express.