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IHG Hotels and Resorts has reported that global RevPAR has risen 2.6% in the first quarter ended 31 March, driven by a particularly strong performance in EMEAA which rose 8.9% during the period.
While the Americas recovered very strongly, it was still broadly flat in Q1 due to “some adverse calendar timing”.
At the same time, Greater China grew by 2.5% and IHG expects the region to continue to benefit from returning international inbound travel this year.
Overall global occupancy moved up to 62% and average daily rate increased by a further 2% as pricing remained “robust”, reflecting the complete return of leisure, business, and group travel.
During Q1, IHG opened more than 6,200 rooms across 46 hotels and signed nearly 18,000 rooms across 129 properties to increase its pipeline by 6.6% year-on-year.
Compared to the same quarter last year, room openings rose 11% adjusting for Iberostar, and signings grew by 7%.
The group attributed ‘quicker to market’ conversions to generating over 35% of openings and signings in the quarter.
Elie Maalouf, CEO of IHG Hotels and Resorts, said: “The combined power of our platform and efficiency of our operating model will continue to drive IHG forward. We are excited about the future and our ability to capitalise further on our strengths, scale and leading positions, and on the attractive, long-term demand drivers for our markets.”
