British hospitality giant InterContinental Hotels Group (IHG) on Friday said its revenue per available room (RevPAR) rose by 2.6% year-over-year in the first quarter of 2024.
The increase was primarily driven by 8.9% growth in its Europe, Middle East, Africa and Asia regional unit.
RevPAR rose 2.5% in its China division, while it dropped 0.3% in the Americas region.
IHG's average daily rate increased 2.3%, and occupancy rose by 0.2 points. Net system size grew 3.4% from last year.
