InterContinental Hotels Group PLC announces Third Quarter Americas 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 and are tabled below.
IHG comparable US RevPAR for the nine months to 30 September 2012 grew 6.3%, driven predominantly by rate up 4.3%. Third quarter US RevPAR growth was slightly softer at 4.6%, with 4.0% 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 7am UK time on 6 November when further commentary will be provided.
|
US Comparable RevPAR Growth (constant currency) |
July 2012¹ |
August 2012 |
Sept 2012² |
Third Quarter 2012 |
Nine months to 30 Sept 2012 |
|
InterContinental |
8.3% |
10.1% |
6.9% |
8.4% |
8.7% |
|
Crowne Plaza |
5.1% |
6.5% |
2.0% |
4.5% |
5.6% |
|
Holiday Inn |
4.7% |
6.5% |
3.8% |
5.0% |
6.4% |
|
Holiday Inn Express |
3.7% |
5.6% |
2.5% |
4.0% |
6.6% |
|
Staybridge Suites |
3.3% |
3.9% |
3.0% |
3.4% |
3.9% |
|
Candlewood Suites |
3.8% |
4.2% |
2.3% |
3.4% |
3.5% |
|
Hotel Indigo |
9.2% |
12.1% |
4.7% |
8.6% |
11.0% |
|
Total US |
4.4% |
6.1% |
3.1% |
4.6% |
6.3% |
