InterContinental Hotels Q3 Comparable RevPAR Rises; Says Confident Of Outlook

(RTTNews) - InterContinental Hotels Group PLC (IHG.L, IHG) reported Tuesday that its third-quarter comparable RevPAR went up 4.8 percent, led by rate up 3.6 percent.

In Americas, RevPAR was up 4.3 percent in the third quarter, with 4.2 percent growth in the US. Elsewhere in the region, Mexico had double digit growth for the second quarter running, but Canada is still being impacted by weaker performance in oil markets.

In Europe, RevPAR was up 7.8 percent in the third quarter, led by increases in rate. UK growth of 4.8 percent was driven by London and the provinces, while 10.1 percent RevPAR growth in Continental Europe was driven by solid trading in Germany, and double digit growth across Southern Europe and Russia and the CIS.

In Asia, Middle East & Africa, RevPAR was up 7.1 percent, while in Greater China, RevPAR was down 0.7 percent as occupancy growth was offset by a decline in rate.

Richard Solomons, Chief Executive, said, "Looking ahead to the remainder of this year, we are encouraged by current trading trends and remain confident in the outlook."

The company added that it remains on track to deliver a next generation Guest Reservation System for roll out in 2017, including development of new cloud based technology.