Bulletin: InterContinental Hotels Group PLC Sees Resilient Operating Performance In Third-Quarter Thanks To Solid RevPAR Growth

This report does not constitute a rating action. LONDON (S&P Global Ratings) Oct. 26, 2023--InterContinental Hotels Group PLC (IHG; BBB/Stable/--) has released its trading update for the third quarter of 2023, showing a solid performance for the period. The group continued to see strong revenue per available room (RevPAR) and occupancy recovering across all the regions, particularly in Greater China, where the economic recovery after pandemic-related restrictions were lifted has supported robust national tourism. Summer trading saw occupancy rates in the third quarter of 2023 almost return to 2019 levels in the U.S. (still 0.6% lower than 2019) and Greater China (2.3% higher than 2019), while Europe still lags marginally (4% lower than 2019). We expect brand and regional diversification

...October 26, 2023 This report does not constitute a rating action. LONDON (S&P Global Ratings) Oct. 26, 2023--InterContinental Hotels Group PLC (IHG; ###/Stable/--) has released its trading update for the third quarter of 2023, showing a solid performance for the period. The group continued to see strong revenue per available room (RevPAR) and occupancy recovering across all the regions, particularly in Greater China, where the economic recovery after pandemic-related restrictions were lifted has supported robust national tourism. Summer trading saw occupancy rates in the third quarter of 2023 almost return to 2019 levels in the U.S. (still 0.6% lower than 2019) and Greater China (2.3% higher than 2019), while Europe still lags marginally (4% lower than 2019). We expect brand and regional diversification alongside new partnerships and openings to continue supporting the group's growth trajectory. However, macroeconomic pressures including higher interest rates and inflation will affect consumer...

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