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IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, confirms its ambition to expand further in Asia-Pacific (APAC) in line with the development of the global travel industry.
According to Elie Maalouf, CEO of IHG, there is very positive travel demand, with the hotel industry experiencing record levels of development activity and high demand for IHG brands. Whether for business or leisure, guests around the world choose our brands. Third-quarter revenue per available room up 10.5% year-over-year globally while revenue from group and meeting bookings increased 37 % compared to 2019.
“We know demand will continue to increase, for example the China region, which I visited recently, continues to show extraordinary revival, with Q3 RevPAR exceeding 2019’s achievements for the first time. Another important factor is air travel, where domestic flights in Asia-Pacific and China have exceeded 2019 levels,” said Maalouf.
He explained that internationally, there is still a lot to do to reach the peak of 2019, but it is encouraging to see the opening of hundreds of routes around the world which all contribute to the optimism for the hospitality industry today.
IHG’s global system totals 930,000 rooms in more than 6,200 hotels, including high-profile hotel openings this year such as the Carlton Cannes, the Regent hotel in France, the voco Osaka Central the first voco property in Japan and the Kimpton Qiantan Shanghai in China. Hotel openings have increased 27% year over year (16,800 rooms across 123 hotels signed globally in Q3,123 hotels), with more than a quarter coming from Luxury & Lifestyle, where IHG has grown significantly.
Maalouf also reiterated IHG’s expansion ambitions in Asia-Pacific as it expands its portfolio of world-class brands. It said, In Asia-Pacific, approximately half of our total rooms and development plans come from the well-loved Holiday Inn Hotels & Resorts and Holiday Inn Express brands, which continue to be at the top of the upper midscale.
“We want to continue to grow across all market segments, such as Luxury & Lifestyle, which currently represents 14% of total rooms and 22% of our development plans globally, roughly double what it was five years ago. The perfect acceleration is within our reach look at APAC, which accounts for 35% of our total rooms for global Luxury & Lifestyle and almost half of our global Luxury & Lifestyle product line which continues to grow through the launch of new brands, and the expansion of our brands,” he said.
Within our Luxury & Lifestyle portfolio, more than 60% of InterContinental’s global brand network is in Asia-Pacific, while Regent Hotels & Resorts is also adding momentum, with its original flagship property Regent Hong Kong returning to the city and preparing for its launch celebrations, in front.
The company invests in all business areas, including powerful enterprise platforms, with the aim of being the first choice for guests, owners and investors. IHG’s One Rewards loyalty program, has grown to more than 115 million members, powered by a 60% increase in enrollment during the first half of 2023. Additionally, the relaunch of its mobile app, the fastest growing booking channel, now drives half of all digital bookings.
IHG focuses on being a responsible company and is committed to caring for employees, society and the planet, as outlined in its 10-year responsible business plan, Journey to Tomorrow, in line with the UN’s 17 Sustainable Development Goals.
This includes various charitable activities in the APAC region, such as partnerships with The Association for Persons with Special Needs (APSN) in Singapore, food rescue with OzHarvest, Japan Harvest, and VietHarvest, and disaster relief with donations of more than US$0.5 million in China for the past six years to support local communities in the face of earthquakes, floods and typhoons.
“Growing our business in the right way is extremely important to us. Through this ambitious commitment, we will champion an inclusive workplace, provide access to skills training and employment opportunities to thousands of people in our communities, and take the right steps to reduce energy, water and waste, to help protect the world around us,” concluded Maalouf. [sources/photo special]
