InterContinental Hotels Group global comparable revenue per
available room declined 0.2 percent year over year in the second quarter,
bringing the company's half-year RevPAR growth to a relatively flat 0.1
percent. The company attributed its short-term RevPAR dilution to a
"strong penetration into developing markets" but said the strategy
"provides a long runway for future revenue growth." The company added
19,374 rooms net during the first half of 2019, a 5.7 percent year-over-year
increase. Nearly 48,000 rooms are in the pipeline, 47 percent of those planned
for China. Revenue for the first half of the year was $1 billion, compared with
$900 million for the first half of 2018, a 12 percent increase. Since IHG
launched all suites
brand Atwell Suites in May, the company has received more than 50 written
expressions of owner interest, and the first hotels are expected to break
ground next year and open in 2021, said CEO Keith Barr. IHG also announced
updated brand designs for Holiday Inn, Staybridge Suites and Candlewood Suites
during the second quarter.
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IHG Q1 results