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Holiday Inn owner IHG room revenues bounce back to pre-pandemic levels By Reuters

© Reuters. Overview of O2’s InterContinental Hotels Prior to Q3 2020 InterContinental Hotels Group PLC Trading Statement Release, London, UK, October 20, 2020.Reuters / Matthew Childs

(Reuters)-Holiday Inn owner IHG reported a surge in third-quarter room earnings on Friday after a busy summer. The company has approached pre-pandemic levels with the relaxation of travel bans.

According to the company, hotel room revenue (RevPAR), a key performance indicator, increased 66% between July and September, compared to a 53.4% ​​decrease in the year-ago quarter, but from 2019. It decreased by 21%.

“Domestic leisure demand was particularly strong during the summer in many markets where occupancy and rates returned to 2019 levels,” said Keith Barr, CEO. He added that there were “more and more encouraging signs”.

According to the company, reviews of about 200 Holiday Inn and Crowne Plaza hotels are on track.

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Holiday Inn owner IHG room revenues bounce back to pre-pandemic levels By Reuters

Source link Holiday Inn owner IHG room revenues bounce back to pre-pandemic levels By Reuters

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