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99.1
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2021
Third Quarter Trading Update dated 22 October 2021
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|
Highlights
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●
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Significant improvement in trading, leading to Q3 group RevPAR
(21)% vs 2019 (+66% vs 2020)
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●
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Average daily rate attained in line with 2019 levels; occupancy of
~60% achieved
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●
|
Gross system growth of +5.2% YOY; opened 12.3k rooms (79 hotels) in
Q3; opened 29.6k YTD, +30% vs 2020
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●
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Review of around 200 Holiday Inn and Crowne Plaza hotels on track;
over 90 hotels exited already or with an exit confirmed, and more
than 40 committed to improvement plans or scopes of
work
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●
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Of 26.5k rooms removed YTD, 17.1k relate to Holiday Inn and Crowne
Plaza in Americas and EMEAA
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●
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Net system growth flat YOY (+1.9% excluding the SVC portfolio
termination in Q4 2020)
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●
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Global system of 889k rooms (6,031 hotels); 68% across midscale
segments, 32% across upscale and luxury
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●
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Signed 12.6k rooms (91 hotels) in Q3; signed 45.2k YTD, +13% vs
2020; global pipeline 270k rooms
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●
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Fee business cost savings of ~$75m vs 2019 on track and sustainable
in future years whilst still investing for growth
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●
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Additional temporary cost savings in 2021 of ~$25m
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Keith Barr, Chief Executive Officer, IHG Hotels & Resorts,
said:
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Regional performance
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Investor Relations (Stuart Ford; Rakesh Patel; Kavita
Tatla)
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+44 (0)1895 512 176
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+44 (0)7527 419 431
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Media Relations (Yasmin Diamond; Mark Debenham)
|
+44 (0)1895 512 097
|
+44 (0)7527 424 046
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UK local:
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0203 936 2999
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UK:
|
0800 640 6441
|
US:
|
+1 646 664 1960
|
All other locations:
|
+44 203 936 2999
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Passcode:
|
70 77 30
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UK:
|
0203 936 3001
|
All other locations:
|
+44 203 936 3001
|
Passcode:
|
36 49 47
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|
Q3 2021 vs 2019
|
Q3 2021 vs 2020
|
||||
|
RevPAR
|
ADR
|
Occupancy
|
RevPAR
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ADR
|
Occupancy
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Group
|
(20.9)%
|
(1.2)%
|
(14.8)%pts
|
65.9%
|
24.2%
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14.8%pts
|
Americas
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(9.9)%
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1.3%
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(8.2)%pts
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76.3%
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24.2%
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19.4%pts
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EMEAA
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(43.1)%
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(9.5)%
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(29.2)%pts
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86.0%
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18.3%
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17.8%pts
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G. China
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(29.9)%
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(6.6)%
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(16.3)%pts
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(8.4)%
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6.7%
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(8.1)%pts
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|
Q3 YTD 2021 vs 2019
|
Q3 YTD 2021 vs 2020
|
||||
|
RevPAR
|
ADR
|
Occupancy
|
RevPAR
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ADR
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Occupancy
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Group
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(34.6)%
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(10.7)%
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(18.7)%pts
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37.1%
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5.2%
|
11.9%pts
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Americas
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(24.9)%
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(8.1)%
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(12.9)%pts
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45.3%
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7.5%
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15.0%pts
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EMEAA
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(58.6)%
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(18.3)%
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(36.4)%pts
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10.9%
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(2.1)%
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4.3%pts
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G. China
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(27.4)%
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(11.4)%
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(10.9)%pts
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40.7%
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4.7%
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12.6%pts
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|
Q3 2021 vs 2019
|
Q3 2021 vs 2020
|
||||
|
CER
|
AER
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Difference
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CER
|
AER
|
Difference
|
Group
|
(20.9)%
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(19.5)%
|
1.4%pts
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65.9%
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68.4%
|
2.5%pts
|
Americas
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(9.9)%
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(10.0)%
|
(0.1)%pts
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76.3%
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76.9%
|
0.6%pts
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EMEAA
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(43.1)%
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(40.5)%
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2.6%pts
|
86.0%
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90.3%
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4.3%pts
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G. China
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(29.9)%
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(24.3)%
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5.6%pts
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(8.4)%
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(2.3)%
|
6.1%pts
|
|
Q3 YTD 2021 vs 2019
|
Q3 YTD 2021 vs 2020
|
||||
|
CER
|
AER
|
Difference
|
CER
|
AER
|
Difference
|
Group
|
(34.6)%
|
(33.6)%
|
1.0%pts
|
37.1%
|
39.5%
|
2.4%pts
|
Americas
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(24.9)%
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(25.0)%
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(0.1)%pts
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45.3%
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45.7%
|
0.4%pts
|
EMEAA
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(58.6)%
|
(56.8)%
|
1.8%pts
|
10.9%
|
15.4%
|
4.5%pts
|
G. China
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(27.4)%
|
(23.2)%
|
4.2%pts
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40.7%
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51.1%
|
10.4%pts
|
2021 vs 2019
|
Jan
|
Feb
|
Mar
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Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Group
|
(52.5)%
|
(53.8)%
|
(46.6)%
|
(41.4)%
|
(37.1)%
|
(31.0)%
|
(18.4)%
|
(23.0)%
|
(21.5)%
|
Americas
|
(45.1)%
|
(45.4)%
|
(39.4)%
|
(32.3)%
|
(27.8)%
|
(19.7)%
|
(7.3)%
|
(12.1)%
|
(10.6)%
|
EMEAA
|
(71.1)%
|
(72.7)%
|
(70.6)%
|
(70.1)%
|
(65.8)%
|
(59.4)%
|
(48.2)%
|
(38.2)%
|
(42.8)%
|
G. China
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(41.5)%
|
(51.1)%
|
(23.2)%
|
(14.9)%
|
(12.0)%
|
(21.5)%
|
(6.4)%
|
(55.2)%
|
(25.9)%
|
2021 vs 2020
|
Jan
|
Feb
|
Mar
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Group
|
(51.7)%
|
(47.7)%
|
20.8%
|
228.0%
|
156.7%
|
108.4%
|
91.9%
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52.8%
|
55.7%
|
Americas
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(44.2)%
|
(44.2)%
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20.7%
|
245.3%
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160.4%
|
108.0%
|
98.6%
|
68.3%
|
63.0%
|
EMEAA
|
(72.2)%
|
(69.7)%
|
(21.5)%
|
183.4%
|
194.1%
|
165.4%
|
100.9%
|
77.8%
|
82.4%
|
G. China
|
(21.9)%
|
335.0%
|
288.6%
|
199.6%
|
107.5%
|
51.3%
|
45.3%
|
(43.0)%
|
(15.6)%
|
2020 vs 2019
|
Jan
|
Feb
|
Mar
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Oct
|
Nov
|
Dec
|
Group
|
(1.5)%
|
(10.8)%
|
(55.1)%
|
(81.9)%
|
(75.6)%
|
(67.4)%
|
(58.1)%
|
(51.0)%
|
(50.9)%
|
(51.9)%
|
(55.3)%
|
(52.4)%
|
Americas
|
0.2%
|
(0.9)%
|
(49.0)%
|
(80.1)%
|
(72.5)%
|
(62.0)%
|
(54.0)%
|
(48.6)%
|
(46.4)%
|
(48.0)%
|
(51.4)%
|
(49.5)%
|
EMEAA
|
2.1%
|
(11.3)%
|
(62.7)%
|
(89.3)%
|
(88.5)%
|
(85.3)%
|
(74.7)%
|
(66.3)%
|
(69.9)%
|
(70.5)%
|
(72.4)%
|
(68.6)%
|
G. China
|
(24.6)%
|
(89.3)%
|
(81.4)%
|
(71.2)%
|
(57.1)%
|
(48.6)%
|
(35.9)%
|
(20.2)%
|
(11.0)%
|
(16.9)%
|
(22.5)%
|
(15.1)%
|
|
System
|
Pipeline
|
||||||
|
Openings
|
Removals
|
Net
|
Total
|
YTD%
|
YOY%*
|
Signings
|
Total
|
Group
|
29,625
|
(26,497)
|
3,128
|
889,164
|
+0.4%
|
0.0%*
|
45,197
|
270,274
|
Americas
|
11,647
|
(18,138)
|
(6,491)
|
507,521
|
(1.3)%
|
(3.6)%*
|
11,870
|
96,701
|
EMEAA
|
5,653
|
(7,248)
|
(1,595)
|
226,254
|
(0.7)%
|
+1.7%
|
11,043
|
77,127
|
G. China
|
12,325
|
(1,111)
|
11,214
|
155,389
|
+7.8%
|
+10.6%
|
22,284
|
96,446
|
|
InterContinental Hotels Group PLC
|
|
(Registrant)
|
|
|
By:
|
/s/ F. Cuttell
|
Name:
|
F.
CUTTELL
|
Title:
|
ASSISTANT
COMPANY SECRETARY
|
|
|
Date:
|
22
October 2021
|
|
|