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October 26, 2010
Revenue per available room in the overall Americas region was up 6.7 percent in the third quarter, as business travelers continued to return in greater numbers, InterContinental Hotel Group said.
InterContinental Hotels Group's ("IHG") annual conference for hotel owners in the Americas region commences this week. Details of revenue per available room (RevPAR) for IHG's brands in the Americas for July, August and September 2010, for the third quarter 2010 and for the nine month period to 30 September 2010 will be disclosed at this conference.
RevPAR growth in the Americas region accelerated through the third quarter to 6.7% driven by occupancy growth of 3.8 percentage points and rate growth of 0.8% as business travellers continued to return in greater numbers. Rate growth improved through the quarter.
Holiday Inn and Holiday Inn Express RevPAR growth accelerated in the third quarter driven by the success of the relaunched hotels which are strongly outperforming those hotels that have not completed the relaunch. Third quarter RevPAR growth at hotels which completed the relaunch grew by 7.9% at Holiday Inn and 6.8% at Holiday Inn Express. In the US, these hotels now sit at a 36% and 20% RevPAR premium to their respective industry segments.
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