LONDON Oct 24 Intercontinental Hotels Group
said revenue growth at its operations in the United
States slowed in the third quarter due to the July 4 holiday
falling midweek and a shift in some religious holidays in
The world's biggest hotelier said revenue per available room
(RevPAR), a key industry metric, rose 4.6 percent for July to
September, driven by a 4.0 percent rise in room rates.
That was a slowdown from growth earlier in the year, the
owner of the Intercontinental, Crowne Plaza and Holiday Inn
chains said. U.S. RevPAR for the nine months to end-September
rose 6.3 percent, and room rates were up 4.3 percent.
"The U.S. industry continues to benefit from a favourable
supply and demand dynamic," the company said on Wednesday.
"Supply growth remains well below historic levels and the
industry has broken monthly records for room nights sold in each
of the past nineteen months, although the pace of demand growth
is expected to continue to slow."