COMPARED to the year before, the InterContinental Hotels Group’s (IHG) 2011 first quarter revenue increased 16 per cent to US$80 million. Operating profit increased 39 per cent to US$25 million, predominantly driven by RevPAR growth and a six per cent year-on-year increase in rooms.
Andrew Cosslett, chief executive of IHG, said: “We delivered a strong set of results. Global RevPAR grew 6.9 per cent, with 18.8 per cent growth in greater China.”
IHG’s Asia-Pacific RevPAR increased 9.9 per cent, including rate growth of 4.8 per cent. Excluding Japan (33 hotels), where the earthquake and resultant events negatively impacted March growth, RevPAR grew 13.6 per cent.
Greater China continues to be IHG’s strongest market, with RevPAR up 18.8 per cent, including rate growth of 9.9 per cent.
Cosslett added that IHG was confident about the outlook for the rest of the year.
“Demand for our brands continues to strengthen with both guests and hotel owners. This is driving our performance and reinforcing our industry-leading pipeline,” he said.
IHG signed 915 rooms (five hotels) in the first quarter, three of which were in Thailand, including an InterContinental resort on the West coast of Koh Samui and a Hotel Indigo on Phuket Naithon beach.
The group inked a further seven deals in April, including three in India and three in Indonesia.
Key openings for the quarter included the InterContinental Kuala Lumpur and Crowne Plaza West Hanoi, the first hotels opened under those brands in Malaysia and Vietnam respectively.