Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Shivani Kumaresan

IHG Hotels & Resorts On Way To Recovery As Travel Booms

  • InterContinental Hotels Group PLC (NYSE:IHG) IHG Hotels & Resorts said its first-quarter revenue per room neared pre-pandemic levels.
  • Rise in demand for hotel stays in the U.S. spring break has lifted occupancy rates, Reuters reported.
  • Q1 RevPAR, or revenue per available room, was up 61% over the same period in 2021, reaching 82% of the 2019 level.
  • The company noted Americas and EMEAA saw sequentially improved trading in February and March after a challenging January.
  • Meanwhile, China's trading in March was impacted by the tightening of localized travel restrictions.
  • "The high level of demand we have seen for leisure travel continues to drive increased rates and occupancy," said Keith Barr, CEO, IHG Hotels & Resorts.
  • Price Action: IHG shares closed lower by 6.36% at $62.26 on Thursday.
  • Photo Via Wikimedia Commons
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.