IHG opened 92 hotels in the third quarter and signed 164, with development split roughly evenly between new builds and conversions of existing hotels.
IHG Hotels & Resorts opened 92 hotels in the third quarter and signed 164, nearly two for every one it opened, the company said in an Oct. 22 trading update. Year to date it has opened 289 hotels and signed 516, and its pipeline of 2,426 hotels equals 33% of the current 7,186-hotel system.
Revenue per available room rose 5.3% globally and 6.8% in the Americas. CEO Elie Maalouf said development is split roughly evenly between new builds and conversions, with conversion-friendly brands voco, Vignette, Garner and Noted growing fastest.
The update landed a day after Wyndham reported a smaller U.S. room count but higher royalties. For owners of existing hotels weighing a flag change, IHG's mix says the big franchisors want them.
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