Exciting news from InterContinental Hotels Group (IHG)! Despite some choppy trading conditions last year, Holiday Inn’s parent company has just posted impressive sales and profit figures after opening a whopping 443 hotels. 🚀
IHG, which also operates the Crowne Plaza and Hotel Indigo brands, saw its revenue jump by 5% to an eye-watering £3.8 billion, while operating profits surged by 15% to £880 million. They added over 65,000 rooms to their portfolio, driving growth even further.
What’s driving this success, you ask? Part of it stems from their savvy acquisition of the European hotel brand Ruby, as well as solid performances in Europe and the Middle East, which helped balance a slight dip in China. Elie Maalouf, CEO of IHG Hotels & Resorts, credited their team’s dedication for the year’s standout results amid the unpredictable market.
He said, “We’ve made excellent financial strides, even during turbulent times, and continue to unlock IHG’s full potential.” With a clear strategy focusing on brand growth and enhancing hotel owner returns, IHG is full steam ahead.
Market analyst Adam Vettese noted, “InterContinental Hotel Group’s figures highlight the resilience of its asset-light model, even as the post-COVID travel buzz calms down.”
It’s an exciting time for IHG as they continue expanding their footprint around the globe. 🌍✨ Keep your eyes peeled for more fabulous hotel openings near you!