Group items tagged

IHG HOTELS & RESORTS reported a 23 percent increase in profit from reportable segments in 2023, surpassing the $1 billion milestone for the first time. The company also noted a 16.1 percent rise in RevPAR, a 5.1 percent increase in ADR, and a 6.4 percentage point uptick in occupancy during the previous year. It anticipates returning more than $1 billion to shareholders through dividends and share buybacks this year, IHG said in a statement. "Travel demand was strong across all markets, with RevPAR up 16 percent from last year and 11 percent ahead of the 2019 pre-pandemic peak," said Elie Maalouf, IHG Hotels & Resorts' chief executive officer. "Combined with the power of our enterprise and efficient operating model, profit from reportable segments grew by 23 percent, exceeding one billion dollars for the first time, and adjusted EPS grew by 33 percent." This marks one of the company's most significant quarters for development activity, IHG said. The company reported full-year revenue of $4.62 billion, marking a nearly 19 percent increase from $3.89 billion in 2022.

Heather Balsley is InterContinental Hotels Group's senior vice president for global loyalty and partnerships. Jennifer Gribble succeeds Balsley to senior vice president for global marketing of mainstream brands. Balsley has been with IHG for 13 years, most recently as senior vice president for global marketing of mainstream brands. Gribble is succeeding her to that position. In her new role, Balsley oversees the company's IHG Rewards Club program. Gribble has been with the company for 16 years, most recently as vice president for Holiday Inn Express, avid hotels and Atwell Suites brands. She now oversees brand performance, design and F&B as well as the launching of new brands. She also served in Crowne Plaza brand management and portfolio-wide marketing services roles in the Americas. "Heather and Jennifer's appointments are critical to IHG's growth as we enhance our award-winning loyalty proposition and our powerhouse mainstream-brand portfolio," Claire Bennett, IHG's global chief marketing officer said in a statement. "Heather brings a strong strategic focus and passion to her new role in loyalty and partnerships, and Jennifer has incredible knowledge of guest insights and owner economics to drive growth and return for our stakeholders."