21st Oct 2014 06:20
LONDON (Alliance News) - Intercontinental Hotels Group PLC Tuesday said global comparable revenue per available room rose 7.0% in the third quarter, its best quarterly performance in over two years and marking an acceleration from the first half of the year, helped by strong growth in the US in particular.
The hotels company said RevPAR grew in every region, but its performance in the US was particularly strong with RevPAR up 8.7%. Elsewhere, the figure was up 6.1% in Europe, 4.4% in Asia, Middle East and Africa, and 0.8% in Greater China.
Overall RevPar growth in the first nine months of 2014 was 6.3%.
Overall, it opened 8,000 rooms in the quarter, signed 16,000 rooms into its system, and delivered net system size growth of 2.7%.
It said its pipeline now stands at 190,000 rooms across 1,198 hotels, with more than 45% under construction and 90% situated in its priority markets.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
InterContinental Hotels