InterContinental Hotels Revenue Per Room Rises on Africa, AsiaDalia Fahmy
InterContinental Hotels Group Plc, the world’s largest provider of hotel accommodation, said third-quarter revenue per room increased, lifted by Asia, Africa and the Middle East.
Revenue per available room, a measure of occupancy and rates known as revpar, increased 3.3 percent from a year earlier, Denham, England-based company said in a statement today. The average daily room rate rose 1.7 percent.
“Despite the ongoing challenges in some of our markets, current trading trends give us confidence for the rest of the year,” Chief Executive Officer Richard Solomons said in the statement.
Revpar at InterContinental’s hotels in Asia, the Middle East and Africa advanced 5.4 in the third quarter, the company said.