InterContinental Hotels Q1 Global RevPAR Rises; Says Confident Of Outlook

(RTTNews) - InterContinental Hotels Group PLC (IHG, IHG.L) reported Thursday very strong first-quarter trading performance, with growth of 4.4 percent in Global RevPAR.

Further, the firm said it is confident of achieving consensus growth forecasts and profit expectations.

In its trading update, the company noted that global RevPAR increased 4.4 percent from last year, with Americas up 3.6 percent, EMEAA up 5.6 percent and Greater China up 5.7 percent.

In the quarter, global rooms revenue on a comparable basis for Groups increased 7 percent and Business grew 6 percent, with growth in Leisure of 1 percent.

Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, said, "Looking ahead, our comparable on-the-books global revenue for Q2 indicates continued growth, with the impact of the Middle East conflict and some wider disruption to international travel flows expected to be more than offset by increases in demand elsewhere."

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