High occupancy drives IHG Q3 revpar in UK

IHG's hotels in the UK enjoyed a positive third quarter of the year, with revpar growth of 4.8%.

The company said the growth was driven by London and the provinces, both of which benefited from high occupancy levels throughout the period, as well as strong corporate demand in September.

The business also hailed the success of its Lowest Price Promise marketing campaign, which it said was driving year-on-year digital revenue growth of over 20% for Holiday Inn Express in the UK.

Overall, global Q3 revpar rose 4.8%, led by an increase in room rates of 3.6%.

The company now has 727,000 rooms around the world under its various brands, including InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, Crowne Plaza Hotels & Resorts, and Holiday Inn.

Richard Solomons, chief executive of InterContinental Hotels Group said: "We delivered strong RevPAR growth of 4.8% in the third quarter, driven by rate up 3.6%, and continued to sign hotels into our pipeline at the fastest rate since 2008. This demonstrates both our ability to drive growth through leveraging scale and execution against our winning strategy to create long term value for shareholders."