Crowne Plaza-owner IHG shares climb 4% as hotel operator taps tourism boom  

Company targeting high single-digit growth in fee revenue by increasing revenue per room, chief executive says

The Crowne Plaza hotel, Santry, near Dublin Airport:  Hotel chain owners, including IHG, have benefited from a tourism boom over the past year and as travel demand is expected to surpass pre-pandemic level.

Crowne Plaza and Holiday Inn owner IHG posted slightly better-than-expected annual room revenue and said it expected to return more than $1bn to shareholders in 2024 as the hotel chain operator enjoyed strong travel demand.

London-listed IHG shares, which climbed by more than 4% following the statement, have soared in the past year as global tourism has boomed. It also owns the InterContentintal and over 10 other hotel brands or chains across more than 6,360 properties the company operates across the world.