The Caterer
Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

InterContinental remains on target to add 10,000 rooms in 2006

14 November 2006

InterContinental Hotels Group (IHG) remains on target to add 10,000 rooms to its portfolio by the end of the year, with steady international growth in recent months.

During the third quarter, to 30 September, IHG reported total gross revenue, defined as total room revenue from franchised hotels and total hotel revenue from managed, owned and leased sites, up 9% to $4.1b. (£ 2.2b)

Operating profit, including discontinued operations, was £62m.

The group, which intends to add 60,000 new rooms by 2008, signed nearly 25,000 rooms during the quarter, taking the group's pipeline to 143,606 rooms.

IHG chief executive Andrew Cosslett said: "Trading in the quarter remained strong with all brands performing well around the world. We have now added more than 6,000 net rooms since January and we are on track to end the year in the region of 10,000 net rooms up."

Regionally, Asia Pacific outperformed the rest of the group growth wise seeing a 60% hike in operating profit from continued operations from $5m (£2.6m) to $8m (£4.21m).

In comparison, the Americas saw operating profit increase by 17% to $108m (£56.9m) and EMEA saw a 22% rise £11m.

And revenue per available room in the Middle East rose by 30%, despite the recent conflict in Lebanon, compared with a global average of 8.6%.

IHG 3rd Quarter Results notification >>
IHG pursuing new rooms >>

By Emily Manson

E-mail your comments to Emily Manson here.

Get your copy of Caterer and Hotelkeeper every week -

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking