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Intercontinental Hotels Q3 RevPAR Down; Says Confident In Financial Outcome

InterContinental Hotels Group plc (IHG.L,IHG) reported Friday that its third-quarter Group RevPAR was down 0.8 percent, impacted by tougher trading conditions in the US and China, and ongoing unrest in the Hong Kong SAR.

The company delivered a 4.7 percent increase in net system size to 865 thousand rooms, despite a strong comparable.

In the Americas, RevPAR was down 0.6 percent reflecting 0.6 percent drop in the US and 2 percent drop in Canada.

In Europe, Middle East, Asia & Africa, RevPAR was up 0.2 percent. Third-quarter RevPAR in Greater China was impacted by ongoing unrest in the Hong Kong SAR where RevPAR was down 36 percent.

The company said it continues to outperform the market in Mainland China, where RevPAR declined 2 percent.

Looking ahead, the company expects to accelerate net system size in the coming quarter and it is on track to exceed 5 percent for full year 2019.

The company remains confident in financial outcome for the rest of the year, despite the weaker RevPAR environment, and the challenges some of its markets are currently experiencing.

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