InterContinental have reported a strong Q3 with continuing revenue up 10% from £183m to £202m, up 14% at constant exchange rates.Other highlights include:
Continuing operating profit up 13% from £47m to £53m, up 21% at constant exchange rates.
Total operating profit, including discontinued operations, of £62m.
Franchised operating profit up 3% to £63m, up 7% at constant exchange rates. Managed operating profit up 18% to £20m, up 18% at constant exchange rates.
Adjusted earnings per share up 100% from 5.7p to 11.4p.
Total gross revenue from all hotels in IHG’s system up 9% to $4.1bn.
Global constant currency RevPAR growth of 8.6%. Strongest growth in EMEA, up 11.6%, mainly driven by rate increases.
Room count increased by 2,773 rooms to 543,775 rooms. Pipeline now 143,606 rooms, up 13,506.
Commenting on the results and trading, Andrew Cosslett, Chief Executive of InterContinental Hotels Group PLC said:
“Trading in the quarter remained strong with all brands performing well around the world. We have now added over 6,000 net rooms since January and we are on track to end the year in the region of 10,000 net rooms up. Our new hotels pipeline continues to grow well and the quality of our new signings is high. Our recent deal with All Nippon Airlines makes IHG the largest international hotel operator in Japan and strengthens our strategic position in Asia. The outlook for the Group remains positive.”