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Holiday Inn owner IHG reveals boost from 2021 Staycation Summer

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nterContinental Hotel Group, owner Holiday Inn When Crowne PlazaHas returned to pre-pandemic levels in some parts of the United States, but there are still ways to get to the UK.

IHG Today, a significant boost from the 2021 Staycation Summer is revealed.

NS FTSE 100 Firm, worldSaid the biggest hotel operator, revenue per available room (RevPar) -a key industry indicator-up 66% from 2020 levels in the three months to the end of September.

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.”

With a note titled “Rolling but not shaking yet” Analyst “We expect a slow recovery at our discretion,” he warned in Peel Hunt this quarter. Business trip Weigh the progress. ”

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

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