
IHG has published results for the first half of the year, ended 30 June 2012. The group reports a rise in operating profit of 6% and RevPAR growth of 6.5%.
Total gross revenue from hotels in IHG’s system was $10.3bn in the first half of 2012, that is, an increase of 7.3% with regards to the same period last year. The company’s operating profit stood at $286m compared to $269m which equates to a rise of 6%, and RevPAR growth was 6.5% (6.1% in the second quarter), up 3.5%.Richard Solomons, Chief Executive of InterContinental Hotels Group, said, “We have delivered good results in the first half with RevPAR growth from all regions through gains in both occupancy and rate. Our brands continue to perform well and we have achieved solid underlying margin growth, resulting in increased profits and strong cash flows.”The IHG global system (the number of hotels which are franchised, managed, owned or leased) increased in the first half of 2012 by 62 hotels to 4,542, with openings of 112 hotels and removals of 50 hotels. 122 hotels joined the system in the same period last year.http://www.youtube.com/watch?v=drZVSUq-Sa4&feature=em-uploademail