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
