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IHG benefits from the American market to improve its results for 2014

Following the sale of several InterContinental Hotels in the United States, IHG has announced a 2% drop in its revenues for 2014. Nonetheless, at constant exchange rates, revenues increased by 6% and the operating profit reached 648 million dollars (571 million euros), or 10% more than in 2013.

InterContinental Hotels Group, the number-one hotel group worldwide in terms of number of rooms, presented its preliminary results for 2014. Although revenues dropped from 1.9 billion to 1.86 billion dollars en 2014, for a 2% drop, this may be explained by the sale of hotels in the United States and worldwide (ex: IHG accepts offer from Qatari investor for InterContinental Paris Le Grand). The sale of these assets made it possible to distribute dividends to shareholders.

On the other hand, on a constant scope and exchange rate basis (CEP), revenues were up by 6%, reaching 1.67 billion dollars. The underlying operating profit reached 648 million dollars (571 million euros) in 2014 (CEP), or 10% more over 2013.

The Revenue per available room (RevPAR) increased by 6.1% in 2014 on an international level with an average daily rate up by 2.7%. On the American continent, the RevPAR climbed 7.4%. The New World accounts for 68% of the group's revenues. IHG's results increased in America thanks to the opening of 21,000 rooms, including the arrival of the two leading hotels of the brand EVEN. The supply lost 12,000 rooms (for 30% fewer than in 2013, through sales and terminated franchise contracts) finally 38,000 rooms were signed to open over the next 5 years, the best performance in six and a 13% increase with respect to the previous fiscal year.

Also read:

  • IHG expands its Staybridge Suites portfolio in London
  • IHG launches Hualuxe in China
  • IHG signs for two hotels in Scotland
  • Kirk Kinsell to step down as President of IHG’s Americas business

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