InterContinental Hotels Q3 Comparable RevPAR Up 1.3% At CER

(RTTNews) - InterContinental Hotels Group PLC (IHG.L, IHG) reported that its third-quarter Global comparable RevPAR increased 1.3 percent at constant exchange rates, with rate up 1.0 percent and occupancy up 0.3 percent pts.

Richard Solomons, Chief Executive of InterContinental Hotels Group PLC, said, "We delivered a solid performance in the third quarter, leveraging our global scale to drive 3.8% net system growth and 1.3% RevPAR growth..... Despite the uncertain environment in some markets, we remain confident in the outlook for the remainder of the year."

In Americas, RevPAR was up 1.9% in the third-quarter. In the US RevPAR was up 1.4% in third-quarter, and 1.9% in the first 9 months, with occupancy levels of more than 75% driven by continued record levels of industry demand.

In europe, RevPAR was flat in third-quarter,. Germany delivered mid-single digit RevPAR growth in Q3, and Russia/CIS drove 20% growth benefiting from increased domestic travel. 2.5% RevPAR growth in the UK reflects solid trading in the provinces partially offset by flat performance in London, where industry-wide supply increases continue to have an impact. Ongoing challenging trading conditions in France, Turkey and Belgium resulted in significant RevPAR declines in those countries.

In Asia, Middle East & Africa, RevPAR was down 0.1% in third-quarter,. Performance in the region outside the Middle East was strong, with 3.9% RevPAR growth in Q3 overall. India delivered RevPAR growth of 21%, Japan was flat, and Australasia and Southeast Asia were up low to mid-single digits, the latter led by Vietnam and Thailand. In the Middle East, RevPAR was down 7.7% due to the ongoing impact of low oil prices.

In Greater China, evPAR was up 0.9% in the third-quarter. The third-quarter growth of 2.2% in mainland China continued to be led by tier one cities, where RevPAR was up nearly 6%. A low single digit RevPAR decline in Hong Kong reflects some improvement in trading, but Macau continues to be affected by industry-wide challenging conditions with RevPAR down 14%.