InterContinental Hotels Group revenue per available room declined 0.8 percent year over year in the third quarter in constant U.S. dollars. Average daily rate declined by the same percentage, and occupancy was flat. Like Accor, IHG stated that the unrest in Hong Kong and ongoing U.S. trade issues with China contributed to a RevPAR decline for the region; in IHG's case, Greater China RevPAR dropped 6.1 percent. That contributed to the overall negative results. In the U.S., Staybridge Suites and Holiday Inn Express were the only IHG brands to report flat or slightly positive RevPAR growth. Overall U.S. RevPAR declined 0.6 percent.
IHG's net rooms grew 4.7 percent year over year during the third quarter. As of Sept. 30, the company had 864,699 rooms across 5,795 hotels, and its pipeline totaled 289,135 rooms across 1,941 hotels. "We have made further progress executing against our strategic initiatives, with the first franchise applications already received for Atwell Suites, our new upper-midscale brand, which was launched for franchise sales at the end of the quarter," said IHG CEO Keith Barr. The company also partnered with travel club and boutique hotel collection Mr. & Mrs. Smith, more than doubling its luxury and boutique offerings to IHG Rewards Club members.
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