Dow Jones Newswires: InterContinental Inns Group RevPAR climbs 28% from a yr in the past

Dow Jones Newswires: InterContinental Inns Group RevPAR climbs 28% from a yr in the past

InterContinental Inns Group PLC stated Friday that its income per obtainable room elevated 28% on yr within the third quarter and that it was 2.7% greater than the comparable interval in 2019.

The FTSE 100 resort chain
IHG,
-0.89%

IHG,
-3.94%

stated RevPAR efficiency within the Americas was effectively forward in contrast with 2019 and the EMEAA area was again to broadly flat on 2019. Enhancements in Higher China mirrored the lifting of a few of coronavirus-related journey restrictions, however the potential for additional lockdowns there stay, IHG stated.

Third-quarter RevPAR was 6.8% greater than 2019 ranges within the Americas, 20% under in Higher China, and 0.1% decrease in EMEAA–which incorporates Europe, Center East, Africa, Asia and Oceania.

The typical day by day price for the interval was 13% greater than 2021 and 11% greater than 2019.

“Robust buying and selling within the third quarter helped our group-wide RevPAR exceed prepandemic ranges. Leisure stays noticed rooms income improve 12% on 2019, whereas the continued return of enterprise and group journey has been constructing every quarter via the yr,” Chief Govt Keith Barr stated.

In a separate announcement additionally Friday, the corporate stated that Paul Edgecliffe-Johnson will step down as chief monetary officer.

Write to Kyle Morris at kyle.morris@dowjones.com

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