8th May 2015 06:25
LONDON (Alliance News) - InterContinental Hotels Group PLC Friday reported growth in global revenue per available room in the first quarter of 2015, boosted by a strong performance in all of its operating regions.
The hotel operator, which owns brands including Holiday Inn, Crowne Plaza and InterContinental Hotels, said global revenue per available room grew 5.9% in the first quarter, driven by an increased rate of 3.4% and growth in all four of the regions it operates in.
It said RevPAR was up 6.2% in the Americas, with growth in the US and Mexico partially offset by softer trading in Canada and Latin America, and was up 5.8% in Europe driven by solid growth in the UK and Germany, two of its priority markets.
Meanwhile RevPAR rose 6.2% in Asia, the Middle East and Africa, particularly supported by a strong performance in the Middle East and Japan, while Greater China grew 2.4%.
The hotel group said it has a net system size of 723,000 rooms, up 4.9% year-on-year. 14,000 rooms were signed into its 201,000 room pipeline, which is the highest number of first quarter hotel signings in seven years.
It added that the sale of InterContinental Paris - Le Grand for EUR330 million is expected to complete in the first half of 2015, and said its gross capital expenditure guidance for the year is unchanged at up to USD350 million.
"With our current trading performance and the strong momentum behind our brands we remain confident that our winning strategy will continue to deliver sustainable high quality growth," Chief Executive Richard Solomons said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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