InterContinental Hotels Group (IHG)’s operating profit for the third quarter of 2010 fell by 7% to $115m compared with the $124m operating profit recorded during the corresponding quarter last year.
The UK hotel group, which operates seven chains including InterContinental, Crowne Plaza and Holiday Inn, reported a revenue of $421m during the quarter, up by 5% over the same period in 2009.
IHG said its revPAR growth of 8.1% was driven by a room occupancy increase of 4% and rate growth of 1.8%.
The hotel group added 7,149 rooms (51 hotels), removed 5,856 rooms (47 hotels), bringing the total number of rooms to 657,954 (4,507 hotels), up by 3%.
IHG will add a further 13,690 rooms (88 hotels) taking its pipeline to 198,141 rooms (1,293 hotels).