InterContinental Hotels Group Plc (IHG.L, IHG) reported that its third quarter Group RevPAR declined 53.4%. For the year-to-date period, Group RevPAR was down 52.3%.
Keith Barr, CEO, InterContinental Hotels Group PLC, said: "Trading improved in the third quarter, although progress continues to vary by region. RevPAR declined 53%, compared to a 75% decline in the prior quarter, while occupancy was 44%, up from 25% in the second quarter."
Total available liquidity at end of September increased to $2.1 billion. After issuance of new bonds and partial repayment of 2022 bonds in early October, on a pro forma basis, liquidity increased further to $2.9 billion.
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