The hotelier has returned to its level of revenue per room of July 2019.
After more than two years in slow motion, the hotel giants are back. Intercontinental Hotels Group (IHG), the world’s fourth largest player, saw its turnover increase by half in the first half, to 1.8 billion dollars, and its operating profit double, to 361 million. These figures are certainly down by 17% and 8% respectively compared to their level in the first half of 2019.
But the ” RevBy(average revenue per room), a key industry indicator, is very encouraging. Still down 10% in the first half compared to its 2019 level, it recovered to 99% in July. The strong increase in the average price compensated for a lower increase in the occupancy rate. What to enthuse the group, which had not planned such a recovery.
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The beginning of the year did not incite IHG to optimism. “The sector has had to deal with a drop in travel volumes due to the Omicron variant of Covid-19recalls the general manager, Keith Barr.But from…
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