InterContinental Hotels Group delivered its strong first half for signings since 2008, the group’s Q2 earnings report revealed.
The hotel operator also reported a 10% increase in underlying profit.
IHG’s global H1 RevPAR was up 5.1% globally, with Q2 YOY growth of 4.4%.
In the Middle East, performance was mixed with 9.9% growth in Saudi Arabia, with a slower performance in the UAE.
The group added 28,000 rooms globally, increasing its total inventory to 724,000 rooms, representing a YOY net-system growth of 4.5%.
IHG also signed 41,000 new rooms globally in the first half of the year – the most since 2008, bringing its pipeline to more than 100,000 rooms under construction.
The group signed the highest number of Holiday Inn rooms in the company’s history during the first half, including the two largest properties for the brand.
Click to read full article at: Hotelier Middle East
