IHG Hotels & Resorts reports gradual recovery over first quarter | News

Just four per cent of properties operated by IHG Hotels & Resorts remained closed in the first quarter, as the hotel giant continued to battle back from the Covid-19 pandemic.

Occupancy at the more than 5,000 hotels which are open, however, stood at 40 per cent.

IHG said group RevPAR was down by half when compared to the pre-Covid-19 first quarter of 2019.

Keith Barr, chief executive of IHG Hotels & Resorts, said: “Trading continued to improve during the first quarter of 2021, with IHG maintaining its outperformance of the industry in key markets and seeing strong performance in openings and signings as we expand our brands around the world.

“There was a notable pick-up in demand in March, particularly in the US and China, which continued into April.

“While the risk of volatility remains for the balance of the year, there is clear evidence from forward bookings data of further improvement as we look to the months ahead.”

IHG is currently able to change around 80 per cent of 2019 rates for rooms.

In Europe, the Middle East, Asia and Africa, the continuation of lockdowns meant RevPAR levels were largely unchanged from the prior two quarters.

In Greater China,