2023-08-08 09:17:33 ET
- InterContinental Hotels press release ( NYSE: IHG ): 1H Non-GAAP EPS of 182.7 cents vs. 2022 H1 figure of 121.7 cents
- Revenue of $1.03B (+22.6% Y/Y).
- The hotel group’s revenues from its fee business grew 21% to $799 million compared to $659 million in H1 2022.
- The company’s operating profits increased by 27% to $479 million from $377 million in 2022.
- The firm’s fee margins also expanded from 55.5% to 58.8%.
- The company reported strong trading during H1 2023, as evidenced by the annual 24% revenue increase per available room (RevPAR). The company's upbeat RevPAR marked a 6.8% improvement from Q1 2019 and a 9.9% improvement from Q2 2019 before the COVID-19 pandemic.
- Recorded growth in all markets where it operates, including the Americas’ which recorded an 11% improvement in RevPAR, and the EMEAA region recorded 42% growth. The greater China region recorded 94% growth in RevPAR.
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InterContinental Hotels reports H1 results