Hotels group reports strong demand despite global economic troubles

Intercontinental Hotels Group, the world’s biggest hotelier, reported higher revenue growth at its American operations and said customer demand had remained strong despite the global economic slowdown.
By The Newsroom
Published 25th Oct 2011, 07:00 BST

The company, which owns the Crowne Plaza and Holiday Inn brands, said total revenues per available room (RevPAR) at its American operations rose 9.5 per cent during the third quarter, outperforming broader industry growth of 7.9 per cent.

There are Holiday Inn hotels across Yorkshire, and Leeds and Sheffield are both home to Crowne Plaza hotels.

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Intercontinental said in a statement that the US industry experienced record levels of room night demand in the third quarter.

The statement added that demand from leisure travellers remained resilient through the summer and demand from business travellers stayed strong.

Intercontinental Hotels’ third quarter business update echoes a similarly robust performance by European rival Accor earlier this month.

Accor, the world’s fourth-largest hotel group, said it had not yet seen any impact on demand from the economic slowdown and expected steady revenue growth to continue into the fourth quarter.

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