Holiday Inn-owner IHG posts rise in quarterly room revenue on strong US demand

By Reuters News

Oct 19 (Reuters) - InterContinental Hotels Group IHG.L on Thursday reported a 5.3% growth in third-quarter revenue per available room, as steady growth in the US outweighed softness in China.

Leisure and travel has been resilient, particularly among affluent travellers, despite challenges from the Iran war and soaring air fares.

The Holiday Inn owner reported growth in third-quarter revenue per available room above the 4.4%, the company-compiled consensus average of analysts with previews and trackers, and reiterated its annual profit forecast.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.