IHG Today, a significant boost from the 2021 Staycation Summer is revealed.
Group RevPar fell 21% at pre-Covid levels, England 22% down.
The recovery was driven by strong summer demand in the United States, where occupancy rates for some hotels exceeded 2019.
Keith Barr, CEO of IHG, praised the “significant” improvement in trading.
“Domestic leisure demand was particularly strong during the summer in many markets where occupancy and rates returned to 2019 levels,” he said.
The group opened 79 hotels during this period and signed the pipeline for an additional 91 hotels. The bar said both optional business bookings and international travel bookings “show more and more promising signs.”
On Friday morning, the stock price fell 2.2% (112p) to 4886p.
Holiday Inn owner IHG reveals boost from 2021 Staycation Summer
Source link Holiday Inn owner IHG reveals boost from 2021 Staycation Summer