InterContinental brings back dividend amid recovery of global travel industry February 22, 2022 British hotelier InterContinental has said it will reinstate its dividend, after posting “encouraging” results for the full year 2021 amid the recovery of the global travel industry. In its 2021 results, InterContinental Hotel Group (IHG), which owns Holiday Inn Express, said its revenues per room had bounced back to 70 per cent of 2019 levels, [...]
Holiday Inn owner reports trade improvement as travel returns October 22, 2021 Crowne Plaza owner InterContinental Hotels Group (IHG) has said it has achieved an average daily rate in line with pre-pandemic levels. In a third quarter trading update, it said it had achieved occupancy of around 60 per cent. It reported revenue per available room (RevPAR) was down 21 per cent on 2019. It was up [...]
Holiday Inn owner IHG sees signs of recovery following pickup in demand May 7, 2021 Holiday Inn owner Intercontinental Hotels Group (IHG) said it has seen a “notable” pickup in demand in the first quarter led by a flurry of bookings in America and China. IHG, whose brands also include the Crowne Plaza, Regent and Hualuxe hotel chains said it outperformed the wider hotel industry in key markets following a [...]
Holiday Inn owner IHG swings to annual loss as Covid takes hold February 23, 2021 InterContinental Hotels Group declared 2020 as the most challenging year in its history on Tuesday as the company slumped to an annual loss. IHG, whose brands include the Crowne Plaza, Regent and Hualuxe hotel chains, reported a group operating loss of $153m for the year ending 31 December. This compares with a profit of $630m [...]
Holiday Inn owner IHG says bookings subdued amid tighter restrictions October 23, 2020 Holiday Inn owner Intercontinental Hotels Group (IHG) said bookings remained subdued in the third quarter, as tighter restrictions introduced in September dampened the sector’s tentative recovery. Group revenue per available room was down 53.2 per cent reflecting a 30 percentage point drop in occupancy year on year. However, occupancy improved to 44 per cent in [...]
Holiday Inn owner IHG sees signs of recovery in July as consumers book staycations August 11, 2020 Holiday Inn owner Intercontinental Hotels Group (IHG) said it had seen an uptick in bookings in July as holiday makers opt for staycations during the coronavirus pandemic. The figures IHG, which also owns the Crowne Plaza, Regent and Hualuxe hotel brands, saw revenue more than halve to $488m in the first six months of 2020. [...]
Holiday Inn owner IHG secures £600m coronavirus loan April 27, 2020 Holiday Inn owner Intercontinental Hotels (IHG) has secured a £600m loan under the government’s coronavirus financial support scheme, the company announced this morning. IHG’s share price jumped 4.85 per cent this morning after the hotel operator said it now had $2bn in liquidity, after it also amended its credit facility to include a waiver of [...]
Coronavirus: Leading hotel chains in talks to provide rooms to NHS March 19, 2020 Some of the world’s largest hotel chains are in talks with the government about providing space for NHS workers as the UK battles the coronavirus outbreak. One group, Best Western Great Britain, is offering 15,000 hotel bedrooms and over 1,000 meeting rooms to help the NHS and local authorities. Intercontinental Hotel Group also said it [...]
Intercontinental Hotels sales in Hong Kong drop on protests February 18, 2020 Intercontinental Hotels has reported a slight dip in revenue per room in 2019, with the Holiday Inn-owner hit by a fall in bookings in Hong Kong due to the unrest in the territory. The hotel group, which operates 443 hotels in Greater China under various brands, said comparable revenue per available room (revpar) dipped 0.3 [...]
Holiday Inn owner Intercontinental Hotels Group hit by Hong Kong protests as revenue falls for quarter October 18, 2019 The owner of Holiday Inn has blamed protests in Hong Kong for a drop in quarterly revenue, as it also suffered from weakness in the US and mainland China. Intercontinental Hotels Group said quarterly revenue per room fell 0.8 per cent, making it the latest company to feel the pinch of weaker global travel. Read [...]