IHG suffers as business clients don’t check in
November 12, 2009 |
High spending business clients have yet to return to InterContinental Hotels in any great numbers, and the shortfall is not being made up by leisure customers, judging by its latest update.
The group, the world's biggest hotelier whose brands include Crowne Plaza and Holiday Inn, said third quarter revenues and operating profits had both fallen by 19%. Revenues per available room (RevPar) - a key industry measure - dropped by 15.2% in the third quarter although the decline narrowed to 13.5% in October. Chief executive Andrew Cosslett said:
The trading environment remains challenging. We see signs of occupancy stabilising but rate is still under considerable pressure across the board. The relaunch of Holiday Inn is gaining pace and continues to make a significant difference to the prospect of our biggest brand.
He maintained the company - which manages or franchises hotels rather than owning them - was well positioned "to lead the industry when the upturn comes" because of the "unique relationship" with its hotel owners along with its global scale and diverse brand portfolio.
Get the full story at the Guardian
Latest Industry News
China to surpass US as largest business travel market by 2015
22 May, 2012 | Hotel Marketing
According to Orbitz, 77 percent of Americans have summer travel plans
22 May, 2012 | Hotel Marketing
More on TripAdvisor’s challenge with genuine reviews
22 May, 2012 | Hotel Marketing
New HTNG standards minimize burden of PCI compliance
22 May, 2012 | Hotel Marketing
Email marketing is on the move
22 May, 2012 | Online Marketing
Email marketing: 7 mistakes not to make
22 May, 2012 | Online Marketing
TripAdvisor grows while countering problems
21 May, 2012 | Hotel Marketing
ChoiceHotels.com leveraging upswing, reporting daily sales of up to $10 million
21 May, 2012 | Hotel Marketing
Simplehoney, Pandora for hotel booking
21 May, 2012 | Online Travel
Beyond listening: 3 ways to be more responsive to social media feedback
21 May, 2012 | Hotel Marketing
Brands under pressure: The brand lives in the employees voice
21 May, 2012 | Online Marketing
The importance of the ‘visual web’
21 May, 2012 | Online Marketing
Kayak to ride Facebook wave
18 May, 2012 | Online Travel
Facebook travel app Gogobot hits 1 million users, 30 times more traffic than all its competitors
18 May, 2012 | Online Travel
No Facebook. Understanding social media in China
18 May, 2012 | Online Marketing
Most Popular Articles
Mobile and its impact on hotel revenue management
16 May, 2012 | Hotel Marketing
Facebook users can now book hotel rooms, and earn commissions
18 May, 2012 | Hotel Marketing
Facebook travel app Gogobot hits 1 million users, 30 times more traffic than all its competitors
18 May, 2012 | Online Travel
No Facebook. Understanding social media in China
18 May, 2012 | Online Marketing
How hotels can benefit from social media events
17 May, 2012 | Hotel Marketing
Top luxury travel trends in China
16 May, 2012 | Online Travel
Kayak to ride Facebook wave
18 May, 2012 | Online Travel
As Facebook grows, millions say, ‘no, thanks’
18 May, 2012 | Online Marketing
Beyond listening: 3 ways to be more responsive to social media feedback
21 May, 2012 | Hotel Marketing
Westin introduces a space for the way people work today
17 May, 2012 | Hotel Marketing
Latest Company News
Availpro launches its new Direct Click Manager service
11 May, 2012 | Hotel Marketing
SiteMinder receives $5 Million investment to fund global expansion
10 May, 2012 | Hotel Marketing
RateGain awarded qualified vendor status with Choice Hotels International
10 May, 2012 | Hotel Marketing
eRevMax expands its India presence with new office in Bengaluru
10 May, 2012 | Hotel Marketing
Lodging Interactive launches website analytics & social tool
10 May, 2012 | Hotel Marketing
Pegasus launches RezView Intelligence
26 Apr, 2012 | Hotel Marketing
HSMAI Revenue optimization conference to focus on RM evolution
27 Mar, 2012 | Hotel Marketing
De Vere partners with SiteMinder
27 Mar, 2012 | Hotel Marketing
Lodging Interactive launches website analytics & social tool
27 Mar, 2012 | Hotel Marketing
How good is your hotel’s social media?
21 Mar, 2012 | Hotel Marketing
TravelClick launches Rate360
29 Feb, 2012 | Hotel Marketing
Appnostic partners with GoMio
29 Feb, 2012 | Hotel Marketing
SiteMinder predicts trends for online hotel distribution for 2012
29 Feb, 2012 | Hotel Marketing
Hotels4u.com added to RateGain’s channel management solution
29 Feb, 2012 | Hotel Marketing
Availpro and EasyRMS come together to boost hotel revenue
08 Feb, 2012 | Hotel Marketing
E-Mail Newsletter
Visit our sponsors:
