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IHG sees US growth slow
INTERCONTINENTAL Hotels Group (IHG) said yesterday revenue growth in the US slowed in the third quarter due to the 4 July holiday falling midweek and a shift in some religious holidays in September.
The world’s biggest hotelier said revenue per available room (RevPAR), a key industry metric, rose 4.6 per cent for July to September, driven by a four per cent rise in room rates. That was a slowdown from growth earlier in the year, the owner of the Intercontinental and Holiday Inn chains said. RevPAR for the nine months to the end of September rose 6.3 per cent.