IHG records 4% drop in RevPar in Q1

IHG records 4% drop in RevPar in Q1
Image used for illustrative purpose only. Image: Six Senses/Instagram
Published: 7 May 2019 - 8:30 a.m.
By: Priyanka Praveen

Hotel group InterContinental Hotel Group (IHG) recorded a drop of 4% in its revenue per available room (RevPar) in the Middle East in the first quarter of 2019.

Globally, the hotel group witnessed an increase of 0.3% in RevPAR, however, occupancy went down by 0.2%.

In a statement online, IHG said, “Trading conditions in the Middle East continued to remain challenging with RevPAR down 4% driven by increased supply and political unrest”.

Looking at the Chinese market, RevPAR was lower compared to 2018’s Q1, which recorded an increase of 11%.

Globally IHG currently has a total of 5,656 hotels, 842,759 rooms,

 


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