IHG Sees 4.5% RevPAR Growth Year-To-Date
Monday October 28th, 2013 - 10:09AM BNX
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LAS VEGAS—At IHG’s annual conference for hotel owners here, the company revealed Q3 results, including substantial RevPAR growth year-to-date.
According to the company, U.S. RevPAR growth for the nine months to Sept. 30 grew 4.5% and was predominantly driven by rate up to 2.9%. Q3 U.S. RevPAR growth was 3.5%, with rate up 2.5%. RevPAR growth in September was softer than preceding months, at 1.6%, which the company attributes to slower group business, as seen across the industry, following the earlier timing of certain holidays.
The company’s full third quarter statement will be released on Nov. 5.
Tags: IHG • Q3 • Hospitality • Brands • Brand Conferences • Quarterly Results •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.