InterContinental Hotels Group PLC announces Third Quarter RevPAR Growth at Annual Conference for Hotel Owners
InterContinental Hotels Group’s (IHG) annual conference for hotel owners in the Americas region commences today. Details of revenue per available room (RevPAR) for IHG’s brands in the US and Americas for July, August and September 2012, for the third quarter 2012 and for the nine month period to 30 September 2012 will be disclosed at this conference.
IHG comparable US RevPAR for the nine months to 30 September 2012 grew 6.3 per cent, driven predominantly by rate up 4.3 per cent. Third quarter US RevPAR growth was slightly softer at 4.6 per cent with 4.0 per cent rate growth, reflecting the shift in timing of certain holidays, which adversely impacted results in both July and September.
The US industry continues to benefit from a favourable supply and demand dynamic. Supply growth remains well below historic levels and the industry has broken monthly records for room nights sold in each of the past nineteen months, although the pace of demand growth is expected to continue to slow.
IHG’s full third quarter results will be announced at 7 am UK time on 6 November when further commentary will be provided.