Intercontinental Hotels Group, IHG, announced that its revenue per available room (RevPar) grew by 8% during the third quarter of 2011. This increase is complemented by a 3% increase in occupancy between June and September 2011, compared to the same period in 2010.
As reported by the company during the annual conference for owners of American hotels, the brands with the highest growth are those that serve the corporate sector, including Holiday Inn, with 10.4% and Holiday Inn Express, with 9.2%. This increase allowed the company to outperform its peers in the mid-tier segment, "primarily due to Holiday Inn's continued profits."
The group spokesmen also explained that part of its growth, particularly in the United States, is due to the fact that the industry of that country "has experienced record levels during the last quarters of the year, both in the corporate travel segment and in the leisure tourism segment."
Currently the chain has managed to expand throughout the continent thanks to a formula of ownership, leasing, franchise or management, adding 640,000 rooms in 4,400 establishments distributed among the brands Intercontinental, Holiday Inn, Crowne Plaza, among others.
