Holiday inn

Holiday Inn owner sees resumption of bookings as trips open

The Holiday Inn owner has seen business pick up as global travel begins to open up after the pandemic.

Intercontinental Hotels Group (IHG) said revenue per available room, the industry’s preferred metric, rose 66% in the three months ending late September compared to the previous year.

However, this was still a 21% drop from pre-Covid levels.

Growth was particularly strong in the United States during the summer vacation, with some hotels exceeding 2019 levels for occupancy rates.

This means that overall revenue per available room in the country has fallen only 10% from pre-Covid levels, driven by low demand at upscale and luxury hotels in cities.

In Europe, Middle East, Asia and Africa (EMEAA) revenue per available room was down 43% from 2019, although it was up 86% from 2020, with occupancy rates reaching 49% against 34% during the three months at the end of June. , while many countries still had travel bans.



As we remain vigilant in the face of fluctuations in Covid restrictions in different markets, the pace of the return in demand is very encouraging as travel reopens more and more in each region.

Keith Barr, IHG

The UK saw revenue per available room drop 22% from 2019, and the rest of Europe by 48%.

IHG Managing Director Keith Barr said: “Trade continued to improve significantly in the third quarter.

“Revenue per available room has moved closer to pre-pandemic levels as more customers return to our hotels around the world.

“Demand for home entertainment was particularly strong in a number of markets over the summer, where occupancy and rates recovered to 2019 levels.

“Discretionary business travel, group bookings and international travel also showed increasingly encouraging signs, in addition to maintaining good levels of core business demand. “

He added that the company opened 79 hotels during the period and signed 91 more in the company’s pipeline.

A review of approximately 200 Holiday Inn and Crowne Plaza hotels remains on track, with over 90 hotels already released or with confirmed release and more than 40 committed to improvement plans.

Looking ahead, the Managing Director said: “As we remain vigilant in the face of fluctuations in Covid restrictions in different markets, the pace of the return in demand is very encouraging as travel reopens more and more in each region. . “


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