IHG’s RevPAR jumps 7% in Americas in Q3

AMERICAS IHG reports that RevPAR growth in the Americas region accelerated through the third quarter to 6.7%, driven by occupancy growth of 3.8 percentage points and rate growth of 0.8%.

The improvements come as business travelers continue to return in greater numbers, the company says. Rate growth also improved through the quarter.

The RevPAR growth was even better for the Holiday Inn and Holiday Inn Express brands, currently undergoing a global relaunch. Holiday Inn properties that have already been made over as part of the relaunch posted RevPAR gains of 7.9% in the third quarter, while the figure is 6.8% for renovated Holiday Inn Express hotels.

In the United States, these hotels are posting massive 36% and 20% RevPAR premiums relative to respective industry segment averages, IHG says.

IHG’s full third quarter results will be announced November 9.