IHG Q1 RevPAR growth beats expectations

(Sharecast News) - InterContinental Hotels Group posted better-than-expected growth in first-quarter revenue per available room (RevPAR) on Thursday as it backed its expectations for the full year. Global RevPAR grew 4.4%, with growth of 3.6% in the Americas, 5.6% in EMEAA and 5.7% in Greater China. Global RevPAR was ahead of expectations for a 3.3% increase.

Chief executive Elie Maalouf said there had been "notable strength in the US on top of good growth this time last year, and further acceleration in Greater China following a return to growth in the prior quarter".

"Our diverse EMEAA region also performed well despite challenges from the conflict in the Middle East, where we continue to do all we can to support our guests, teams and owners," he added.

He also said that the impact of the Middle East conflict and some wider disruption to international travel flows is expected to be more than offset by increases in demand elsewhere.

"While still early, our confidence of achieving full year consensus growth forecasts and profit expectations is underpinned by the strength of our performance year-to-date," Maalouf said.

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