Holiday Inn owner suffers Middle East slowdown as Iran war hits tourism Hospitality The owner of Holiday Inn has suffered a slump in revenue at its Middle Eastern business as the Iran war knocked the region’s tourist economy. Intercontinental Hotels Group (IHG) said its revenue per available room in the Middle East slipped by 19 per cent in the three months to June. This followed a two per [...]
IHG: Holiday Inn owner braces for 50 per cent Middle East hit Hospitality Holiday Inn owner IHG expects to see a 50 per cent hit to its operations in the Middle East, as the Iran war wreaks havoc on global travel. Intercontinental Hotels Group said revenue per available room in the Middle East slumped to a 26 per cent year-on-year fall in March, reversing the nine per cent [...]
IHG: Holiday Inn owner reports room revenue growth Business Holiday Inn owner IHG’s revenue per available room was positive over the last quarter, despite concerns over its performance. In a third quarter trading update, Intercontinental Hotels Group reported global RevPAR, a key metric for the hotel industry, of 1.5 per cent. RevPAR in the UK grew by 2.2 per cent over the quarter, above [...]
IHG: Holiday Inn owner posts rise in revenue driven by growth in Europe and Asia May 3, 2024 Holiday Inn owner InterContinental Hotels Group (IHG) has reported an increase in revenue as the tailwinds that turbocharged its profits last year roll over into 2024.
BP and Heathrow join new BCC business council pitched as CBI rival June 5, 2023 Top global firms have led the charge to support a new rival to the under-fire CBI lobbying organisation. Energy giant BP, power firm Drax, Heathrow Airport and international hoteliers IHG have become founding members of the British Chambers of Commerce (BCC) business council. The organisation is set to take on the Confederation of British Industry [...]
Holiday Inn chief steps down as group sees bookings hike despite ‘economic tailwinds’ May 5, 2023 The chief of Holiday Inn owner International Continental Hotels (IHG) is to step down from the helm after nearly six years. Keith Barr, group chief executive officer of the global hotel chain will be succeeded by Elie Maalouf, who currently heads up its American operations. Barr has worked within the brand for almost 14 years, [...]
Brits flocked back to hotels in post Covid rebound as Holiday Inn owner’s revenue up 34 per cent February 21, 2023 Holiday Inn owner Intercontinental Hotels Group experienced a strong post-pandemic rebound, with revenues up 34 per cent in 2022 as consumer demand for hotels soared. The group, which has over 50 hotels across London, posted total revenues of $3.bn (£3.22bn) in the year ending December 2022, up 34 per cent from $2.90bn (£2.41bn) in the [...]
Holiday Inn owner sees group profit more than double after hotel demand returns August 9, 2022 Holiday Inn owner InterContinental Hotels Group has seen group profit more than double versus 2021 after a recovery in demand for travel. The London-listed firm said it was also reintroducing an interim dividend at a level 10 per cent higher than when last paid and launching an initial $500m share buyback. Revenue for the first [...]
InterContinental Hotels makes steady progress to 2019 levels as travel booms May 6, 2022 InterContinental Hotels (IHG) said that pent-up demand had driven people back on holiday, with revenue up 61 per cent and catching up with pre-pandemic rates. For Europe, the Middle East and Africa, revenue per available room (RevPAR) hit 122 per cent compared 2021, whilst the Americas were up 58 per cent. With America leading the [...]
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, [...]