Holiday Inn-owner IHG reports drop in quarterly revenue per room

Holiday Inn-owner IHG reports drop in quarterly revenue per room

InterContinental Hotels Group reported a 0.8per cent decline in revenue per room for the third quarter on Friday, as the Holiday Inn-owner was hurt by protests in Hong Kong and tougher trading conditions in the United States and China.

FILE PHOTO:  The ticker symbol and company logo for InterContinental Hotels Group is displayed on a
FILE PHOTO: The ticker symbol and company logo for InterContinental Hotels Group is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 22, 2019. REUTERS/Brendan McDermid/File Photo

REUTERS: InterContinental Hotels Group reported a 0.8per cent decline in revenue per room for the third quarter on Friday, as the Holiday Inn-owner was hurt by protests in Hong Kong and tougher trading conditions in the United States and China.

The company, which has nearly 5,800 hotels under brand names like Crowne Plaza and Regent Hotels & Resorts, said revenue per available room (RevPAR) fell 6.1per cent in Greater China, with a 36per cent drop in Hong Kong.

(Reporting by Tanishaa Nadkar and Uday Sampath in Bengaluru; Editing by Amy Caren Daniel)

Source: Reuters

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