InterContinental Hotels Group (IHG) has announced its half year results till June 30, 2008. Its three year net room-growth target, which was set for end 2008, has been exceeded six months ahead of schedule, with 60,490 rooms added since June 2005. 48,282 new rooms (356 hotels) were signed during the first six months of this year, bringing the pipeline to 242,349 rooms (1,788 hotels), which is 41 per cent of the existing system size. Global constant currency Revenue per Available Room (RevPAR) grew four per cent. Total gross revenue from all hotels in IHG’s system was USD 9.6 billion, up eight per cent in constant currency.
Peter Gowers, Chief Executive, IHG Asia Pacific said that during the first half, IHG signed six Holiday Inn hotels in India, where the company currently has a pipeline of more than 20 hotels (5,000 rooms). In Asia Pacific, a total of 2,670 net rooms were opened and another 8,922 rooms were signed across the InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express brands. RevPAR increased by 5.2 per cent across the region, driven by rate. |