Intercontinental Hotels bookings hit Q3 record

InterContinental Hotels, the world’s biggest hotel group, yesterday said it was seeing higher revenue growth at its American operations and highlighted industry resilience in the face of a global economic slowdown.

In a third-quarter trading update, the company said it saw record levels of demand in the US as booking from leisure travellers remained buoyant throughout the summer and demand from business travellers stayed strong.

The company, which owns the Crowne Plaza and Holiday Inn brands, said total revenues per available room at its American operations rose 9.5 per cent during the third quarter, up from 6.6 per cent a year ago, and outperforming broader industry growth of 7.9 per cent.

In a research note, Numis Securities said the strong performance underscored its confidence in full-year forecasts and said it saw scope for modest upgrades if trading continues its recent momentum.

Other leading hotel companies, including Marriott International and Accord, have recently provided upbeat trading reports and outlooks.