Holiday Inn owner flags tentative hotels recovery

The company, whose brands include Holiday Inn, the Crowne Plaza, Regent and Hualuxe hotel chains, posted a 53.4% fall in third-quarter revenue per available room (RevPAR), compared to the 75% drop reported in the previous quarter.

InterContinental Hotels Group (IHG) has signalled recovery from pandemic lows with rising occupancy levels and improving hotel room revenues, as the international travel and hospitality industry faces renewed pressure from new lockdowns and restrictions.

The company, whose brands include Holiday Inn, the Crowne Plaza, Regent and Hualuxe hotel chains, posted a 53.4% fall in third-quarter revenue per available room (RevPAR), compared to the 75% drop reported in the previous quarter.