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 •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.