IHG Results
IHG Reports Improvement in Demand over the Course of H1, Resulting in RevPAR (43)% Vs 2019 and +20% Vs 2020
IHG Reports Interim Results to 30 June 2021
IHG Reports Interim Results to 30 June 2021
Improvement in demand within the first quarter, led by the Americas and Greater China. - Group RevPAR down 50.6% vs 2019 (down 33.7% vs 2020); continued industry outperformance in key markets. - RevPAR reflects a 23%pts reduction in occupancy, with rate sustained at ~80% of 2019 levels.
Operating profit from reportable segments down 75% to $219m before System Fund result of $(102)m and operating exceptionals of $(270)m, predominantly comprising charges already taken in H1 2020, including impairments to owned and leased hotels and acquired management agreements.
Following the release of InterContinental Hotels Group (IHG) Q3 2020 trading update, Ben Cordwell, Travel & Tourism Analyst at GlobalData offers his view on the companys results
Occupancy improved to 44% from 25% in Q2; 199 hotels (3% of estate) remained closed at 30 September
IHG Announces Interim Results to 30 June 2020
Group Q1 comparable RevPAR down 24.9%; March down 55%; April expected to be down around 80%
Key metrics - $27.9bn total gross revenue (up 2%; 3% at CER) - (0.3)% global FY RevPAR - (1.8)% global Q4 RevPAR
$13.6bn total gross revenue (up 2%; 5% at CER) - 0.1% global H1 RevPAR (Q2 = (0.2)%)
RevPAR was up 0.3%, with rate up 0.6% and occupancy down 0.2%pts.