IHG, which includes brands such as Holiday Inn, Crowne Plaza and InterContinental, said it had agreed deals to add another 16,000 rooms to its pipeline of new hotels during the third quarter of this year, which was its best quarter for signings since 2008. IHG also enjoyed a record-breaking quarter for opening new Holiday Inn rooms.
The company said that its rates went up by 3.6% for the period between July and September, compared to the same quarter last year. Revpar (revenue per available room) also increased by 4.8% due to higher occupancy levels.
IHG global expansion gathers pace
Hotels
Rob Gill
20 October 2015
InterContinental Hotels Group is set to add new rooms at its fastest rate since the financial crisis seven years ago.
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