Hotelier IHG reports revenue growth slowdown in Americas after hurricanes
Revenue per available room (RevPAR), a key industry measure, at its Americas business rose 0.8 percent in the three months ended Sept. 30,
Bengaluru - Muslimchronicle
InterContinental Hotels Group (IHG) reported a slowdown in revenues in its Americas business on Friday, due to the affects of Hurricanes Harvey and Irma on the regional business.
Revenue per available room (RevPAR), a key industry measure, at its Americas business rose 0.8 percent in the three months ended Sept. 30, compared with a 1.1 percent rise in the second quarter and 1.9 percent a year earlier.
In the US RevPAR was up 0.4 percent, which compared with a rise of 1.4 percent a year ago.
“Hurricanes Harvey and Irma had a mixed impact; displacement activity together with the relief and reconstruction efforts benefitted our franchise business. But performance across the managed estate was negatively impacted by the cancelation of group bookings at some hotels,” the company said.
Source:Arabnews
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