Holiday Inn and Crowne Plaza owner IHG on Tuesday (6 August) posted marginal gains in revenue per available room (RevPAR) during the first half of the year (H1).
Group-wide, IHG RevPAR was up 0.1% for the six months to 30 June, while in its Europe, Middle East, Asia and Africa region, it was up 0.2% with the UK performing strongly.
Underlying operating profit increased 2% to $410 million, taking account of IHG’s acquisition of a 51% stake in Regent Hotels & Resorts last July.
UK RevPAR is up 2% year-on-year for the half, with London up 5% and the regions 1%. Second quarter RevPAR increased 4% in London and 1% regionally, which IHG has attributed to the Cricket World Cup (May 30 to 14 July).
Chief executive Keith Barr said IHG had made “significant progress” in what he described as a “slower RevPAR growth environment”.
Barr took over as IHG chief executive in July 2017 tasked with growing the group’s business in China, where H1 RevPAR fell 0.3%.
The group did, however, take on 48,000 new rooms in China during H1, its highest rate of signings in a decade, growing its pipeline to 282,000 rooms.
IHG last month committed to removing miniature plastic toiletries from its hotel rooms by the end of 2021 and shifting to bulk dispensers instead.