Hotelier IHG posts slower Q2 RevPAR growth

Bengaluru

INTERCONTINENTAL Hotels Group (IHG) reported slower growth in revenue per available room (RevPAR) in the second quarter, sending its shares down 4 per cent, as a later Easter weighed on its US performance.

The operator of brands such as Crowne Plaza, Holiday Inn and InterContinental said RevPAR grew 1.5 per cent in the three months to June 30, down from 2.7 per cent in the first quarter and 2.5 per cent a year earlier. The Easter holiday, when there are fewer business travellers, fell in the second quarter of this year versus the first quarter of last year.