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CORRECTED-Hotelier IHG reports revenue growth slowdown in Americas after hurricanes
October 20, 2017 / 6:28 AM / a month ago

CORRECTED-Hotelier IHG reports revenue growth slowdown in Americas after hurricanes

(Corrects second paragraph to read “...a rise of 1.9 percent in the same period last year and 0.1 percent growth in the second quarter of 2017...” instead of “...a 1.1 percent rise in the second quarter and 1.9 percent a year earlier...”)

Oct 20 (Reuters) - InterContinental Hotels Group (IHG) reported a slowdown in revenues in its Americas business on Friday, due to the affects of Hurricanes Harvey and Irma on the regional business.

Revenue per available room (RevPAR) at its Americas business rose 0.8 percent in the three months ended Sept. 30, compared with a rise of 1.9 percent in the same period last year and 0.1 percent growth in the second quarter of 2017.

In the United States RevPAR was up 0.4 percent, which compared with a rise of 1.4 percent a year ago.

“Hurricanes Harvey and Irma had a mixed impact; displacement activity together with the relief and reconstruction efforts benefitted our franchise business. But performance across the managed estate was negatively impacted by the cancellation of group bookings at some hotels,” the company said. (Reporting by Esha Vaish and Radhika Rukmangadhan in Bengaluru; Editing by Greg Mahlich)

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