InterContinental Hotels 1Q Revpar Beats Ests.
2015-05-08 06:08:17.155 GMT
By Heather Burke
(Bloomberg) -- InterContinental Hotels 1Q global revpar
growth 5.9%, est. 5%, with rate up 3.4%.
* 1Q revpar growth by region:
* Americas 6.2%, est. 6.5%
* Europe 5.8%, est. 5%
* Asia, Middle East & Africa 6.2%, est. 3%
* Greater China up 2.4%, est. -1.3%
* U.S. 6.6%, occupancy the highest IHG ever recorded in 1Q
* U.S. 6.6%, occupancy the highest IHG ever recorded in 1Q</li></ul>
* Net system size of 723k rooms, up 4.9% (3.3% excluding
Kimpton)
* 14k rooms signed into 201k room pipeline, highest 1Q hotel
signings in 7 yrs
* 7k rooms (57 hotels) opened in 1Q, 6k rooms (38 hotels) were
removed, with 3k in the Americas
* IHG and Amadeus will develop a next-generation Guest
Reservation Systems
* Sale of InterContinental Paris - Le Grand for EU330m is
expected to complete in 1H 2015, strategic review of
InterContinental Hong Kong is on-going
* Gross 2015 capex guidance for the year is unchanged at up to
$350m
* Call 9am +44 (0)20 3003 2666, pw IHG Analysts Call
*Preview * Statement
For Related News and Information:
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To contact the reporter on this story:
Heather Burke in London at +44-20-3525-2044 or
hburke2@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
2015-05-08 06:08:17.155 GMT
By Heather Burke
(Bloomberg) -- InterContinental Hotels 1Q global revpar
growth 5.9%, est. 5%, with rate up 3.4%.
* 1Q revpar growth by region:
* Americas 6.2%, est. 6.5%
* Europe 5.8%, est. 5%
* Asia, Middle East & Africa 6.2%, est. 3%
* Greater China up 2.4%, est. -1.3%
* U.S. 6.6%, occupancy the highest IHG ever recorded in 1Q
* U.S. 6.6%, occupancy the highest IHG ever recorded in 1Q</li></ul>
* Net system size of 723k rooms, up 4.9% (3.3% excluding
Kimpton)
* 14k rooms signed into 201k room pipeline, highest 1Q hotel
signings in 7 yrs
* 7k rooms (57 hotels) opened in 1Q, 6k rooms (38 hotels) were
removed, with 3k in the Americas
* IHG and Amadeus will develop a next-generation Guest
Reservation Systems
* Sale of InterContinental Paris - Le Grand for EU330m is
expected to complete in 1H 2015, strategic review of
InterContinental Hong Kong is on-going
* Gross 2015 capex guidance for the year is unchanged at up to
$350m
* Call 9am +44 (0)20 3003 2666, pw IHG Analysts Call
*Preview * Statement
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Heather Burke in London at +44-20-3525-2044 or
hburke2@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net