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InterContinental's global RevPar rises 2.3% in Q3


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InterContinental's global RevPar rises 2.3% in Q3

InterContinental Hotels Group Plc reported a 2.3% increase year over year in global comparable revenue per available room for the third quarter, owing to a 2.2% rate growth.

RevPAR in the Americas rose 0.8% year over year, with the U.S. recording a 0.4% uptick during the three-month period. Europe saw an incline of 7.1% during the period, while Asia, the Middle East and Africa saw a 0.6% jump. RevPar in Greater China ascended 7.8%, and a 9% climb was registered in mainland China.

Meanwhile, the company opened 11,000 rooms spread over 70 hotels and disposed of 3,000 room across 19 hotels in the third quarter.

Additionally, the group's net system size was up 4.1% year over year to 786,000 rooms, representing the strongest growth in net rooms since 2010, according to a release.

CEO Keith Barr stated that 20,000 rooms were signed into the company's 235,000-room pipeline, at the fastest third-quarter rate since 2008. He added that several other in-progress deals, including the agreement to introduce Kimpton Hotels & Restaurants in Southeast Asia and the EVEN Hotels brand in China, will secure their presence in 10 major markets around the world.