Sunday, October 22, 2023
North America

IHG’s Group Quarterly RevPAR Up 12.8% Over 2019

  • IHG reported strong earnings, including a 10.5% increase in Group RevPAR, but disappointed shareholders by deferring capital returns.
  • The US group business is rebounding well, with top markets nearly fully recovered to 2019 levels. Prominent cities like Austin, Nashville, and Denver exceeded 2019 figures.
  • Various hotel developments and acquisitions are ongoing in different locations, reflecting the industry’s resilience and growth prospects. Notably, TMGOC Ventures secured approval to introduce the first Ritz-Carlton in Savannah.

The DJIA ended Friday down 287 points while the Nasdaq was down 202, the S&P 500 was down 54 points, and the 10-year treasury yield was down .06 to 4.92%. Lodging stocks were lower. SOHO and VCSA traded down to new lows, with VCSA down another -7%. SLNA fell -6%. IHG kicked off the hotel earnings season, and while the results were good, with […]