IHG reports 'solid trading' for Australia in Q3

3.9% growth in RevPAR for Australasia in third quarter

The Intercontinental Hotels Group has reported "solid trading" in Australia for Q3, with Australasia as a whole registering growth of 3.9% in revenue per available room (RevPAR).

IHG currently operates three hotel brands in Australia: InterContinental, Crowne Plaza and Holiday Inn. The company's first Holiday Inn Express in the country is expected to open in 2015.

Australasia outstripped the group's global Q3 RevPAR growth of 3.3%.

The greater AMEA region came out top for growth for the quarter, with IHG reporting a growth rate of 5% for RevPAR.

“We have delivered a solid third quarter performance,” said Richard Solomons, CEO of InterContinental Hotels Group PLC.

“Despite the ongoing challenges in some of our markets, current trading trends give us confidence for the rest of the year and our strategy for high quality growth positions us well for continuing success into the future.”

Room numbers grew 1% year-on-year, IHG reported, with a total of 8000 rooms opening worldwide since 30 September, for a total of 679, 000 rooms. An additional 16, 000 rooms were signed in Q3.

“We continue to develop our high quality pipeline which underpins our future growth plans,” Solomons said.

“Signings of more than one hotel a day included two hotels for our InterContinental brand, in London and Sydney, and our second owned hotel for EVEN Hotels.”

IHG’s current global development pipeline consists of more than 1100 hotels and close to 180, 000 rooms.