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InterContinental Hotels Group PLC said Friday that comparable revenue per available room fell 0.8% for the third quarter due to tougher trading conditions between the U.S. and China and continuing unrest in Hong Kong.
The group–owner IHG, +0.46% of the Crowne Plaza and Holiday Inn brands — said revenue per available room, or RevPAR, for the first nine months of the year was flat on the year before.
In the U.S. market, RevPAR fell 0.6% for the quarter, but it rose 0.2% in Europe, the Middle East, Asia and Africa.
In the U.K., RevPAR rose 1%, and in London it rose 3%, driven by international inbound demand.
“Despite the weaker RevPAR environment, and the challenges some of our markets are currently experiencing, we remain confident in our financial outcome for the rest of the year,” Chief Executive Keith Barr said.
