(Reuters) – InterContinental Hotel Group (IHG.L), the world’s top hotelier, said revenue per available room in the Americas region was boosted by the ongoing relaunch of its Holiday Inn hotels and the return of business travelers.
InterContinental, whose brands include namesake hotels along with the Crowne Plaza and Holiday Inn, said revenue per available room (RevPAR), a key industry metric, rose by 7.9 percent at its 557 relaunched Holiday Inn hotels, strongly outperforming those which have been not yet been relaunched.
The hotelier, which typically manages or franchises hotels instead of owning them and earns 70 percent of its profit in the United States is heavily reliant on its mid-market Holiday Inn chain.
Revenue per available room in the overall Americas region was up 6.7 percent in the third quarter, as business travelers continued to return in greater numbers, the group said.
InterContinental will announce its full third quarter results on Nov 9. (Reporting by Lorraine Turner; Editing by Kate Holton)