InterContinental Hotels Group released its 2024 first-half financial report: total revenue increased by 4% year-on-year
InterContinental Hotels Group released its performance report for the first half of 2024, with total revenue increasing by 4% year-on-year. The number of newly opened hotels in China increased by 49%. Global hotel RevPAR grew by 3% year-on-year, while ADR increased by 2%. The number of signed rooms for InterContinental Hotels grew by 67% year-on-year, with rooms under construction increasing by 15%
On August 9th, DoNews reported that InterContinental Hotels Group PLC (NYSE: IHG, InterContinental Hotels) recently released its report for the first half of 2024.
Financial data shows that during the reporting period, InterContinental Hotels' total revenue was approximately $2.322 billion, a 4% year-on-year increase; operating profit was about $525 million, a 10% year-on-year decrease; adjusted earnings per share were 203.9 cents, a 12% year-on-year increase.
In the first half of this year, the RevPAR (Revenue Per Available Room) of InterContinental Hotels' global hotels increased by 3% year-on-year, with a 3.2% year-on-year increase in the second quarter. The RevPAR of hotels in Europe, the Middle East, Africa, and Asia increased by 7.5% year-on-year, with a 6.3% increase in the second quarter; the RevPAR of hotels in the Greater China region decreased by 2.6% year-on-year, with a 7% decrease in the second quarter; the RevPAR in the United States increased by 2.5% in the second quarter.
Additionally, the ADR (Average Daily Rate) of InterContinental Hotels' global hotels increased by 2% year-on-year, with an occupancy rate increase of 0.6 percentage points.
In the first half of this year, InterContinental Hotels opened 18,000 hotel rooms (126 hotels). As of the end of the reporting period, the total number of hotel rooms globally was 955,000 (6,430 hotels). Meanwhile, during the reporting period, InterContinental Hotels signed a total of 57,100 rooms (384 hotels), a 67% year-on-year increase; there were 330,000 rooms under construction globally (2,225 hotels), a 15% year-on-year increase
