IHG Reports Year-to-Date U.S. RevPAR Growth of 4.5 Percent
Revenue per available room increased by 4.5 percent for the first nine months of the year at InterContinental Hotel Group's U.S. properties. The lodging giant disclosed RevPAR figures for the first three quarters of 2013 at its annual conference for hotel owners. The RevPAR boost was driven in large part by a 2.9 percent rise in average daily rate. For the third quarter alone, a 2.5 percent increase in rate led to RevPAR growth of 3.5 percent. For the month of September, the relatively sluggish 1.6 percent rise in RevPAR was the result of slower group business. Of the company's brands, Hotel Indigo led with 9.0 percent RevPAR growth in the U.S. for the first three quarters, followed by a 7.6 percent increase for the InterContinental flag. The InterContinental Hotel Group will release full third-quarter results on Nov. 5.