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InterContinental Hotels Group, the owner of Crowne Plaza and Holiday Inn, said it has seen an improvement in bookings in March and April, particularly in the US and China, but occupancy rates remain below pre-pandemic levels.
The group, whose UK Holiday Inns have been used for quarantining visitors returning from abroad, said only 4 per cent of its hotels worldwide were still closed down at the end of March - or around 220.
But despite seeing an improvement during the first quarter, just 40 per cent of all its hotel rooms were occupied in the first quarter, with occupancy rates around 80 per cent of 2019 levels.
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Holiday Inn owner says U.S. demand picks up ahead of summer
05/07/2021 6:53
(Reuters) -Holiday Inn owner InterContinental Hotels said on Friday U.S. demand was gathering pace ahead of the summer season and reported strong revenue for March, adding that forward-bookings indicate further pick-up in the coming months.
The rebound comes after IHG sunk to an annual loss for 2020 and called it the most challenging year in its 200-year history, as the health crisis saw countries across the world impose months-long lockdowns and travel curbs to contain the outbreak. While the risk of volatility remains for the balance of the year, there is clear evidence from forward-bookings data of further improvement as we look to the months ahead, Chief Executive Officer Keith Barr said.
InterContinental Hotels sees improvements in US and China 07/05/2021, 9:20 am
Holiday Inn owner Intercontinental Hotels has seen revenues continue to be subdued due to the coronavirus pandemic (Steve Parsons/PA)
InterContinental Hotels has seen a slight improvement in business in the first three months of the year, with strong growth in the US and China.
Bosses said revenue per available room – their preferred measure – was still heavily down on pre-pandemic levels at 50.6% but that occupancy levels did improve during the quarter.
Chief executive Keith Barr said: “There was a notable pick-up in demand in March, particularly in the US and China, which continued into April.