InterContinental Revpar Jumps Worldwide Except Greater China
- Hotel company's shares gain as much as 5% in London trading
- Revpar in Hong Kong and Macau falls by double digits
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InterContinental Hotels Group Plc, the world’s largest provider of hotel accommodation, said third-quarter room revenue rose as the owner of the Holiday Inn and Crowne Plaza chains saw increases in all its regions except Greater China. The shares soared.
Revenue per available room, a measure of occupancy and rates known as revpar, increased 4.8 percent from a year earlier, the Denham, England-based company said in a statement on Tuesday. InterContinental’s shares rose as much as 5 percent, the most since July 30, and were trading at 2,428 pence in London at 9:55 a.m.