There is so much demand for a long-delayed holiday that InterContinental Hotels Group is confident it will achieve long-term sustainable growth.
After a couple of tough years, with everyone but the Swedes confined to barracks, it looks as though the world is itching to go travelling again. Shrugging off reports of endless cancelled flights as airlines struggle to staff up, and boldly waving goodbye to the baggage in the full knowledge that it may well be the last time they see it, doughty tourists are racing to park the posterior on the sun lounger and the business sector shows it has had quite enough of Zoom.
IHG, the owner of 17 hotel brands, including Crowne Plaza and Holiday Inn, has more than 6,000 hotels in its portfolio. About two-thirds of them are in the Americas, where revenue per available room increased by 3.5% in the past quarter from the comparable quarter in 2019. Lockdowns and continuing travel restrictions in China put a dampener on IHG’s results overall, but the group says the Americas are recovering strongly, Europe is playing a fast catch-up, and borders in Asia are opening. ..
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