August 7, 2018 / 6:23 AM / 7 days ago

IHG quarterly room revenue growth accelerates on China demand

Aug 7 (Reuters) - InterContinental Hotels Group Plc’s (IHG) second-quarter room revenue growth accelerated, helped by higher demand in China, it said on Tuesday.

Revenue per available room (RevPAR) rose 3.7 percent in the three months to June 30, higher than the 3.5 percent growth in first quarter and 1.5 percent a year earlier.

The company said it was on track to deliver about $125 million in annual savings by 2020, which it plans to reinvest to drive growth. (Reporting by Arathy S Nair in Bengaluru; Editing by Amrutha Gayathri)

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