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Increased London room supply pushes IHG's UK revpar down

08 May 2013 by
Increased London room supply pushes IHG's UK revpar down

Increased room supply in the London hotel market caused revpar at InterContinental Hotels Group (IHG) in the UK to drop by 2.4% in the first quarter of 2013.

The company revealed global revpar growth of 3.1% for the period, driven by 2% average daily rate growth.

The group blamed the shift in timing of Easter from April into March for an adverse impact on revpar during the quarter. Revpar in the Americas increased 4.1% (with 4.6% in the US), with trading strongest in its luxury brands, including Hotel Indigo (up 11.3%) and InterContinental (up 8.6%).

In Europe, revpar was down 2.2%, while it rose 5.5% in Asia, the Middle East and Africa.

Meanwhile, IHG announced that it would rename its loyalty programme to IHG Rewards Club, from Priority Club Rewards and start offering free internet to all members worldwide from this summer.

IHG had 674,000 rooms worldwide as at 31 March 2013, an increased of 1.9%. It has also signed deals on 14,000 more rooms in the first quarter of the year, taking its pipeline of rooms to 176,000 by the end of the quarter.

* See this week's issue (10 May) for the Caterer and Hotelkeeper Interview with Angela Brav, chief executive, Europe, of InterContinental Hotels Group *

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