IHG: Holiday Inn owner posts rise in revenue driven by growth in Europe and Asia Hospitality Holiday Inn owner InterContinental Hotels Group (IHG) has reported an increase in revenue as the tailwinds that turbocharged its profits last year roll over into 2024.
BP and Heathrow join new BCC business council pitched as CBI rival British Chambers of Commerce Top global firms have led the charge to support a new rival to the under-fire CBI lobbying organisation. Energy giant BP, power firm Drax, Heathrow Airport and international hoteliers IHG have become founding members of the British Chambers of Commerce (BCC) business council. The organisation is set to take on the Confederation of British Industry [...]
Holiday Inn chief steps down as group sees bookings hike despite ‘economic tailwinds’ Holiday Inn The chief of Holiday Inn owner International Continental Hotels (IHG) is to step down from the helm after nearly six years. Keith Barr, group chief executive officer of the global hotel chain will be succeeded by Elie Maalouf, who currently heads up its American operations. Barr has worked within the brand for almost 14 years, [...]
Brits flocked back to hotels in post Covid rebound as Holiday Inn owner’s revenue up 34 per cent February 21, 2023 Holiday Inn owner Intercontinental Hotels Group experienced a strong post-pandemic rebound, with revenues up 34 per cent in 2022 as consumer demand for hotels soared. The group, which has over 50 hotels across London, posted total revenues of $3.bn (£3.22bn) in the year ending December 2022, up 34 per cent from $2.90bn (£2.41bn) in the [...]
Holiday Inn owner sees group profit more than double after hotel demand returns August 9, 2022 Holiday Inn owner InterContinental Hotels Group has seen group profit more than double versus 2021 after a recovery in demand for travel. The London-listed firm said it was also reintroducing an interim dividend at a level 10 per cent higher than when last paid and launching an initial $500m share buyback. Revenue for the first [...]
InterContinental Hotels makes steady progress to 2019 levels as travel booms May 6, 2022 InterContinental Hotels (IHG) said that pent-up demand had driven people back on holiday, with revenue up 61 per cent and catching up with pre-pandemic rates. For Europe, the Middle East and Africa, revenue per available room (RevPAR) hit 122 per cent compared 2021, whilst the Americas were up 58 per cent. With America leading the [...]
InterContinental brings back dividend amid recovery of global travel industry February 22, 2022 British hotelier InterContinental has said it will reinstate its dividend, after posting “encouraging” results for the full year 2021 amid the recovery of the global travel industry. In its 2021 results, InterContinental Hotel Group (IHG), which owns Holiday Inn Express, said its revenues per room had bounced back to 70 per cent of 2019 levels, [...]
Holiday Inn owner reports trade improvement as travel returns October 22, 2021 Crowne Plaza owner InterContinental Hotels Group (IHG) has said it has achieved an average daily rate in line with pre-pandemic levels. In a third quarter trading update, it said it had achieved occupancy of around 60 per cent. It reported revenue per available room (RevPAR) was down 21 per cent on 2019. It was up [...]
Holiday Inn owner IHG sees signs of recovery following pickup in demand May 7, 2021 Holiday Inn owner Intercontinental Hotels Group (IHG) said it has seen a “notable” pickup in demand in the first quarter led by a flurry of bookings in America and China. IHG, whose brands also include the Crowne Plaza, Regent and Hualuxe hotel chains said it outperformed the wider hotel industry in key markets following a [...]
Holiday Inn owner IHG swings to annual loss as Covid takes hold February 23, 2021 InterContinental Hotels Group declared 2020 as the most challenging year in its history on Tuesday as the company slumped to an annual loss. IHG, whose brands include the Crowne Plaza, Regent and Hualuxe hotel chains, reported a group operating loss of $153m for the year ending 31 December. This compares with a profit of $630m [...]