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

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

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