InterContinental Hotels Group PLC reported travel demand remained strong in the third quarter and said occupancy levels were almost back to pre-Covid levels.
Elie Maalouf, chief executive officer, said: “Group-wide occupancy was 72%, just one percentage point behind 2019 which further confirms the near-complete return to pre‑Covid levels of demand.”
“Travel demand remained very healthy during the quarter,” he added, with pricing remaining “very robust”.
The hotel operator said quarter three revenue per available room (RevPAR) rose 10.5% from the year before, with Americas up 4.1%, EMEAA up 15.9% and Greater China up 43.2%.
Maalouf said: “Greater China continued its excellent rebound with RevPAR now above 2019, which the Americas achieved in the second quarter of last year and EMEAA in the fourth quarter.”
The firm said average daily rates were 4.1% higher than last year, and 14.8% above 2019 levels with occupancy 4.1% percentage points compared to last year, and 1.3 percentage points lower than 2019.
IHG said the next update on share buybacks will be given alongside full-year results in February.