InterContinental posts strong growth
InterContinental Hotels Group (IHG), owner of brands including Holiday Inn, Hotel Indigo and Crowne Plaza, has posted a 6% jump in full year revenue.
IHG attributes its performance for the year to 31 December to “brand delivery and scale advantage”.
Total revenue came in at $1,628m (£1,011m) and operating profit at $444m (£275.9m), up 22%. year on year.
Chief executive Andrew Cosslett says: “After a slow start to the year, the industry staged the sharpest recovery in its history, exceeding all expectations. By focusing on our brands and using our scale, we delivered 6% growth in revenue per available room (RevPAR).”
He adds that the group’s priority now is to increase market share and improve margins “in an industry set for strong growth over the next few years.”
IHG has been focusing on growth in China and grew its number of rooms by 12% last year. Greater China delivered the strongest RevPAR growth, up 25.8% for the year.
The group has also refreshed its Holiday Inn brand and is working on an overhaul of the Crowne Plaza offering.
Holiday Inn and Express by Holiday Inn are tier three sponsors of the London 2012 Olympics and will be leveraging the connection via brand ambassadors and promotions.
