InterContinental Hotels Group Announces Half Year 2011 Earnings Results

  • InterContinental Hotels & Resorts
  • 08.09.11
Richard Solomons, chief executive of InterContinental Hotels Group PLC, said, “In the first half we delivered a strong performance across each of our regions, driven both by increased occupancy from business and leisure travellers as well as progressive rate improvement.

Global revenue per available room (RevPAR) grew 6.7 percent with Greater China up 12.7 percent and the U.S. up 8.2 percent, where the Holiday Inn relaunch is delivering sustained outperformance.

“We continue to support our owners, driving guests to our hotels through the most efficient channels. Our industry leading developments in mobile booking sites and apps are now generating over $10 million of revenue a month and we expect this to grow quickly as consumer booking preferences evolve.

“We have realized over $140 million in the year to date from the sale of our interests in four hotels and have committed to invest over $70 million of capital behind our brands, including the roll out of Holiday Inn Express in India and a world class site for Hotel Indigo in New York.

“Our priorities are to develop our brands, invest in our people and strengthen our revenue delivery systems, thereby creating firmer foundations for growth. I have made a number of senior appointments including Tom Singer as CFO and Tracy Robbins our EVP Human Resources and Global Operations Support will be joining the Board.  Whilst we continue to monitor the uncertain economic outlook, we look forward with confidence in the currently favourable hotel trading environment of record demand and low supply growth in many markets.”

Kirk Kinsell, president, the Americas, IHG, said, "We continued to gain owner and guest confidence in our brands in the first half of the year with the recovery in action. We saw increases in both RevPAR and rate growth and continued to open and sign hotels in the U.S. and the Americas region overall. Our signings were up nearly 1,500 rooms over the same period in 2010, and we opened 88 hotels into our system. “Additionally, our brands continue to be recognized as some of the best in the world by guests, which speaks to the strength of our brands and our people who deliver great guest experiences everyday. In particular, we continue to see the benefits of the Holiday Inn relaunch with guests and owners as guest satisfaction has improved and we signed 82 hotels – 19 more than the same period last year.”

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