InterContinental Hotels Group (IHG) announced a slowdown in its third-quarter 2024 room revenue growth, with global Revenue Per Available Room (RevPAR) increasing by 1.5% for the quarter ended September 30. This figure represents a deceleration from the 3.2% growth reported in the preceding three months.
The performance reflected a mixed geographical landscape, with the Europe, Middle East, Africa, and Asia (EMEAA) region delivering a 4.9% rise in RevPAR. However, this growth was offset by a significant decline in Greater China, where RevPAR fell by 10.3%.
The decrease in China's RevPAR is attributed to the fading of last year's strong domestic travel recovery. Despite the regional disparities, IHG stated it expected to conclude the year in line with market expectations.
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