June 30, 2020 / 6:55 AM / 10 days ago

IHG average room revenue slides 76% in May, shows slight improvement from April

FILE PHOTO: The logo for The Intercontinental Hotel is seen in London August 5, 2013.REUTERS/Suzanne Plunkett

(Reuters) - InterContinental Hotels Group Plc (IHG.L) on Tuesday posted a 76% slump in average room revenue in May due to coronavirus lockdowns, a slight improvement from the preceding month as the Holiday Inn-owner ramps up the reopening of its properties.

The company said comparable Revenue Per Available Room (RevPAR), a key gauge of performance for the hotel industry, is expected to fall 75% for the second quarter overall.

Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich

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