IHG reports half-yearly regional growth


 

Richard Solomons, IHG
Image Source: Accountancy Age

Intercontinental Hotel Group (IHG) has announced results for the first half of 2012, declaring substantial growth in RevPAR, occupancy, rate and market share across all regions.

South East Asia and Greater China experienced RevPAR growth of 7.9 percent and rate increases of 2.2 percent in the first quarter and 8.8 percent RevPAR and a 2.7 percent rate rise in the second quarter of 2012.

Trading across the region was strong, with most markets showing healthy RevPAR growth, reflecting the ongoing economic growth and stability in Southeast Asia.

IHG opened 1868 rooms in the first half of the year, including Crowne Plaza’s first resort in the region in Thailand, InterContinental’s Danang Sun Peninsula Resort hotel in Vietnam and the first Holiday Inn Express hotel for Southeast Asia, in Bangkok. 

Greater China saw revenue increase by 14 percent to $108 million and operating profit soar 20 percent to $36 million.

IHG also captured the leading share of active hotel pipeline in China at 18 percent.

IHG chief Richard Solomons said IHG has delivered fantastic growth results thus far and the company plans to extend these efforts.

“We have delivered good results in the first half with RevPAR growth from all regions through gains in both occupancy and rate,” he said.

“Our brands continue to perform well and we have achieved solid underlying margin growth, resulting in increased profits and strong cash flows.”

“While the global economic environment remains uncertain, IHG continues to trade well and we are confident that our strategy will deliver high quality growth into the future.”

Source = e-Travel Blackboard: P.T
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