IHG reveals strong third quarter results
Intercontinental Hotels Group (IHG) has reported strong third quarter results with revenue increases of up to eleven percent to US$467 million converted to 33 percent growth in operating profit of US$153million.
The companies global RevPAR growth of 6.4 percent comprises of strong growth rate of 2.8 percent and occupancy rates are now at 71 percent for the hotel group.
Domestically, Asia Pacific RevPAR increased nearly six percent including a strong growth rate of 2.0 percent and Greater China reporting the strongest RevPAR growth of almost eight percent.
Greater China also reported a strong rate growth of five percent which was mostly derived by the region’s Holiday Inn brand re-launch which has seen the company sign 2,500 more family rooms globally than last year.
Looking ahead the company plans to begin a multi-year programme to boost stronger performance for IHG’s Crowne Plaza Hotel.?
The plans for the hotel involve a three-phase brand repositioning including superior quality hotels purposely designed to attract IHG’s target guests for the brand.
The coming quarter also shares the focus of drawing IHG’s ‘Best Price Guarantee’ promotion, which is intended to urge more customers to book through IHG’s websites and mobile applications.