Holiday Inn owner IHG has today reported 3% growth in its annual room revenue, above market expectations, boosted by a pick-up in demand in the US.
Analysts, on average, had expected revenue per available room (RevPAR), a key metric in the hotel industry, to grow 2.6% for the year ended December 31, 2024, a company-compiled consensus showed.
In the US – its largest market – IHG reported a RevPAR growth of 1.7%. In China, RevPAR fell 4.8%.
The company launched a new $900m share buyback programme and proposed a 10% increase in its annual dividend.
It also announced the acquisition of the Ruby brand from European hotel operator The Ruby Group for €110.5m.
