The international group, which owns a raft of resort manufacturers together with Crowne Plaza and Regent, stated it’s optimistic that gross sales will stay sturdy “irrespective” of shorter-term financial pressures.
It revealed its reported revenues hit one billion US {dollars} (£780 million) within the half 12 months to the top of June, up 23% from 840 million {dollars} (£658 million) the prior 12 months.
Its working revenue additionally surged by 27% to 479 million {dollars} (£375 million) over the interval.
In the Americas and EMEAA areas, leisure demand has remained buoyant and enterprise and group journey continued to strengthen, whereas in Greater China, demand has rebounded quickly
Furthermore, the group’s international income per accessible room (RevPAR), an essential measure for the resort trade, swelled by 24% year-on-year and surpassed pre-Covid ranges.
The improved end result was pushed by a fast rebound in gross sales in China following the numerous easing of Covid-19 restrictions at first of this 12 months, and buoyant demand for leisure journey in the remainder of the world.
In the UK, there was a very sturdy rebound in journey in London , IHG stated.
“There have been no broad signs of consumer price resistance or cooling of leisure demand to date,” the group stated, indicating that it has not been impacted by the broader cost-of-living squeeze.
Prices easing in some US resorts have been offset by rising demand for worldwide journeys, IHG stated.
But enterprise and group journey have continued to enhance extra slowly, with the latter nonetheless lagging behind pre-pandemic demand.
Elie Maalouf, IHG’s chief government, stated: “Our teams have delivered strong results in the first half, with financial performance, hotel openings and signings all significantly above prior year comparisons.
“Travel demand is very healthy, with RevPAR improving year-on-year across all our markets and exceeding 2019 pre-pandemic peaks for four consecutive quarters.
“In the Americas and EMEAA regions, leisure demand has remained buoyant and business and group travel continued to strengthen, while in Greater China demand has rebounded rapidly.”
FTSE 100-listed IHG’s share worth was up by greater than 1% in early buying and selling.
