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InterContinental Hotels Group Q3 RevPAR down 0.8% YOY

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InterContinental Hotels Group Q3 RevPAR down 0.8% YOY

InterContinental Hotels Group PLC's revenue per available room was down 0.8% year over year in the third quarter, owing to unfavorable trading conditions in the U.S. and China, as well as ongoing unrest in Hong Kong.

RevPAR remained flat in the first nine months of 2019.

The company's net system size grew 4.7% annually to about 865,000 rooms across 5,795 hotels during the three-month period, and the company expects to exceed 5% growth during the full year.

In the three months to Sept. 30, the British hotelier opened 13,000 rooms, taking the total to 42,000 rooms year to date.

For the full year, the company expects a roughly $5 million adverse impact from the fee income loss from trading conditions in Hong Kong and a roughly $10 million favorable impact from nonrecurring items including significant liquidated damages and accounting treatment relating to IFRS 16.