Holiday Inn is IHG’s hardest-hit brand in Americas
Global hotel operator InterContinental Hotels Group has reported a slowdown across its US business, blaming the “earlier timing of certain holidays” for softer revenue per available room growth of 1.6% during the month of September.
Holiday Inn was the hardest-hit brand, with RevPAR falling by 0.9% in the month.
“Current trading trends give us confidence for the rest of the year and our strategy for high-quality growth positions us well for continuing success into the future,” IHG said in a statement.
For the nine months up to the end of September, US RevPAR grew 4.5%, driven predominantly by rate up 2.9%. Third-quarter US RevPAR growth was 3.5%, with rate up 2.5%.
“Our full year RevPAR forecast for IHG’s US business is 5% and the outcome for the year now looks as though it may be slightly shy of this,” said analysts at Numis.
“However, we believe that fundamentals for the industry in the US remain sound [with continued low-capacity growth] and we are not changing forecasts at this stage.”
[photo courtesy IHG]