IHG Says Hotel, Resort Rates Now Higher Than Pre-pandemic Levels

For its Q3 results, IHG Hotels & Resorts - whose brands include Regent, InterContinental Hotels & Resorts, and Kimpton Hotels & Restaurants, among others - reported that group revenue per available room (RevPAR) exceeded pre-pandemic levels. IHG posted group RevPAR for Q3 2022 at 2.7 per cent above 2019 levels, and a 28 per cent year-over-year increase, reports Business Travel News.

Overall, the average daily rate was up 13 per cent year over year compared to 2021, and was 11 per cent higher than 2019 levels despite occupancy being down 6 per cent. During Q3 2022, the group opened 51 hotels and added 89 properties to the pipeline.

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