Markets
IHG

Intercontinental Hotels Q1 RevPAR Down

(RTTNews) - Intercontinental Hotels Group PLC (IHG.L, IHG) reported Friday that its first-quarter Group revenue per available room or RevPAR was down 32.6 percent from last year on a reported basis, and was down 33.7 percent at constant exchange rates.

Compared to pre-covid level in 2019, first-quarter RevPAR was down 50.1 percent on a reported basis, and was down 50.6 percent at constant exchange rates.

The company said its trading continued to improve during the first quarter with increased demand mainly in the Americas and Greater China.

Keith Barr, Chief Executive Officer, IHG Hotels & Resorts, said, "There was a notable pick-up in demand in March, particularly in the US and China, which continued into April. While the risk of volatility remains for the balance of the year, there is clear evidence from forward bookings data of further improvement as we look to the months ahead."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

IHG

Latest Markets Videos

    RTTNews

    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More