IHG revenue rises amid U.S. market recovery - 0 views
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asianhospitality on 14 Aug 24INTERCONTINENTAL HOTELS GROUP reported a 3 percent INcrease IN global RevPAR IN the first half of 2024, with 3.2 percent growth IN the second quarter, driven by a recovery IN U.S. markets. ADR rose 2 percent, and occupancy INcreased by 0.6 percentage poINts IN the first half, leadINg to a 6 percent rise IN total gross revenue, reachINg $16.1 billion. The company's U.S. RevPAR was positive startINg IN April, INcreasINg by 2.5 percent IN the second quarter, IHG said IN a statement. IN May, IHG reported a 0.3 percent year-over-year declINe IN RevPAR for the Americas IN the first quarter, due to a 1.9 percent drop IN U.S. RevPAR. "We are makINg great progress on the delivery of our strategic priorities and the clear framework to drive future value creation that we set out IN February," said Elie Maalouf, IHG's CEO. "RevPAR growth accelerated IN the latest quarter, reflectINg a strong U.S rebound IN the second quarter and the breadth of our global footprINt, and development activity contINues to INcrease. Together with system growth, notable margIN expansion and the benefit of returnINg surplus capital through buybacks, adjusted EPS growth was up 12 percent."