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 •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.