First-quarter systemwide room revenue generated by business transient travel at IHG Hotels & Resorts increased 3 per cent year-on-year, according to an earnings report on Thursday (8 May).
The company, which owns brands such as Holiday Inn, Crowne Plaza and InterContinental, saw its average daily rate (ADR) for the quarter increase by 2.2 per cent compared to the same time last year, while revenue per available room (RevPAR) increased 3.3 per cent year-on-year.
The “strong” quarter was also boosted by an increase in occupancy, with IHG CEO Elie Maalouf adding the company is “on track” to meet full-year profit expectations “despite increased volatility”.
The increase in Q1 business travel room night revenue was particularly…
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