InterContinental Hotels Group?s Q3 Interim Management Statement reports global RevPAR up 4.8 percent.
?We delivered strong RevPAR growth of 4.8 percent in the third quarter, driven by rate up 3.6 percent, and continued to sign hotels into our pipeline at the fastest rate since 2008,? said CEO Richard Solomons.
?This demonstrates both our ability to drive growth through leveraging scale and execution against our winning strategy to create long term value for shareholders.
?There is increasing momentum across our portfolio of preferred brands. Holiday Inn delivered a record level of room openings, and we are expanding our global luxury footprint, particularly in Greater China where nearly a quarter of our 5,000 room signings in the region were driven by InterContinental Hotels & Resorts.
?We continue to expand the presence of our newer brands, including our second franchise signing for EVEN hotels in the US, and five signings for our industry-leading boutique brands.
?The completion of the sale of InterContinental Hong Kong marks the successful conclusion of our major owned asset disposal programme, with over 95 percent of our profit now from the fee business.
?Our innovative commercial strategy continues to deliver lowest cost revenues into our hotels, and we are on track to deliver a next generation cloud based Guest Reservation System for roll out in 2017.
?Looking ahead to the remainder of this year, we are encouraged by current trading trends and remain confident in the outlook.?
InterCon reports global RevPar growth
