BREAKING NEWS

BREAKING NEWS

Hotelier IHG reports revenue growth slowdown in Americas after hurricanes

Now Reading:

Hotelier IHG reports revenue growth slowdown in Americas after hurricanes

Text size Aa Aa

(Reuters) – InterContinental Hotels Group (IHG) <IHG.L> reported a slowdown in revenues in its Americas business on Friday, due to the affects of Hurricanes Harvey and Irma on the regional business. Revenue per available room (RevPAR), a key industry measure, at its Americas business rose 0.8 percent in the three months ended Sept. 30, compared with a 1.1 percent rise in the second quarter and 1.9 percent a year earlier. In the United States RevPAR was up 0.4 percent, which compared with a rise of 1.4 percent a year ago. “Hurricanes Harvey and Irma had a mixed impact; displacement activity together with the relief and reconstruction efforts benefitted our franchise business. But performance across the managed estate was negatively impacted by the cancellation of group bookings at some hotels,” the company said.

(Reporting by Esha Vaish and Radhika Rukmangadhan in Bengaluru; Editing by Greg Mahlich)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.