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IHG announce 26% annual growth in 2011

InterContinental Hotel Group (IHG) has announced global operating profits of over $550m in 2011, which equates to 26% annual growth.

Revenue per room (RevPAR) also rose despite a fall in the last quarter of the year in the UK and Europe. Preliminary results show revenue grew by 9% worldwide and over 20% in Europe. The increase comes from revenue per available room in the US and China.

Although growth remains more modest in Europe, where the group operates the Holiday Inn and Crowne Plaza brands, IHG remains confident in European markets, despite economic times.

Richard Soloman, Chief Executive of IHG says:

“The strength of our brands, underpinned by our global systems and scale, delivered 6.2% growth in RevPAR in the year. We have continued tp outperform the industry in key markets such as the US and Greater China. We are strengthening our business through developing our brand portfolio supported by targeted investment.”

IHG signed 38 hotels in Europe last year, providing nearly 6,000 more hotels rooms. These included three Hotel Indigo properties in Birmingham and Liverpool, the group’s new boutique brand."

The Holiday Inn brand is driving future growth of the company in Europe, which represented 65% of room signings in 2011 for the hotel development pipeline.

London success

The group also owns InterContinental Hotels whose Park Lane property delivered high RevPAR growth of 7.3% in 2011.

In fact, IHG has received an early Olympics boost with its London establishments already 85 per cent booked for this summer’s games. The group has 51 London properties.

As well as opening two hotels overlooking the Olympic Park, under the Staybridge Suites and Holiday Inn names, IHG will be providing accommodation in up to 39 UK locations for the Olympic torch relay.

Last year, IHG unveiled plans to increase its UK estate by a further 28 hotels from the current total of 269, an expansion that will create up to 3,000 jobs.

This news story was written by DialExpotel for Expotel, the UK’s leading hotel, travel and venue booking agency. To make a hotel booking, book online or call Expotel on 0844 793 7300

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