IHG reported revenue of $840 million in the six months to 30 June, compared to $565 million year-on-year, an increase of 49%. Average daily rates grew 24% and occupancy by 10 percentage points versus 2021, but remained 10 percentage points down on 2019.

IHG opened 96 hotels in the period, taking its total over the 6,000 mark, with a global pipeline of 1,858 properties.

Group pre-tax profit rose from $67 million in the first half of 2021 to $299 million this year.

Chief executive Keith Barr said: "We saw continued strong trading in the first half of 2022 with increased demand for travel in most of our markets. This brought group revenue per available room very close to pre-pandemic levels in the second quarter.

“Alongside leisure stays, the return of business and group travel demand continued to build over the period, and our hotels are seeing increased pricing power due to the strength of IHG’s brands, loyalty programme and technology platform.”

Barr added profitability in the Americas was now ahead of 2019.