IHG, which owns brands such as InterContinental, Holiday Inn and Crowne Plaza, said that its revpar (revenue per available room) was down by 53% year-on-year during its third quarter but this was an improvement on the 75% decline seen in the previous quarter.

Room occupancy for IHG also rose from just 25% in the second quarter of 2020 to a rate of 44% in the third quarter helped by stronger domestic demand.

In Europe, revpar for IHG’s hotels was still down 72% for the third quarter with stronger demand during the summer holidays in July and August, which then “weakened” again in September

IHG chief executive Keith Barr said: “Domestic mainstream travel remains the most resilient, and our industry-leading Holiday Inn brand family positions us well to meet that demand as it slowly returns.

“A full industry recovery will take time and uncertainty remains regarding the potential for further improvement in the short term, but we take confidence from the steps taken to protect and support our owners and drive demand back to our hotels as guests feel safe to travel.

“Our actions have resulted in ongoing industry outperformance in our key markets, and we remain focused on leveraging the strength of our brands, scale and market positioning to recover strongly and drive future growth.”