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The InterContinental Hotels Group (IHG) has reported a strong third quarter with growth in revenue per available room (RevPAR) of 7%.
The group said that it had delivered its best quarterly RevPAR performance in over two years with growth in each of the four regions. RevPAR in Europe was up 6.1% in the third quarter and 5.3% in the first nine months.
The UK and Germany performed particularly well, with the UK delivering double digit RevPAR growth reflecting strong performance in both London and the regions.
The company reported a net increase in the number of rooms by 2.7%, with 8,000 rooms opening in Q3. IHG’s pipeline now stands at 190,000 rooms with more than 45% currently under construction, and 16,000 rooms were signed to the pipeline in Q3.
It also said that its Staybridge Suites and Hotel Indigo brands had reached their milestones, reaching 200 hotels and 60 hotels open, respectively.
Richard Solomons, chief executive of IHG, said: “Whilst some of our markets face heightened uncertainty and risks, we continue to see strong momentum in the business and remain encouraged by current trading and positive booking trends.”
