IHG Hotels and Resorts: Q1 Trading Update to 31 March 2025 - Get updated on what's happening in tourism!

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IHG Hotels and Resorts: Q1 Trading Update to 31 March 2025
Global RevPAR +3.3%, driven by globally diverse footprint and growth in each of Business, Leisure and Groups; strong quarter of development performance, with openings and signings well ahead of last year; whilst at an early stage, on track to meet full year consensus profit expectations
IHG Hotels and Resorts: Q1 Trading Update to 31 March 2025

Highlights

Q1 global RevPAR +3.3%, with Americas +3.5%, EMEAA +5.0% and Greater China -3.5%

Q1 global rooms revenue on a comparable basis saw Business +3%, Leisure +2% and Groups +5%

Average daily rate +2.2% and occupancy +0.6%pts

Gross system size growth accelerated to +7.1% YOY, +1.5% YTD; opened 14.6k rooms (86 hotels) in Q1, more than double the same period last year

Net system size growth +4.3% YOY, 0.0% YTD (or +5.0% YOY and +0.7% YTD excluding the impact of removing rooms previously affiliated with The Venetian Resort Las Vegas); global system of 987k rooms (6,668 hotels)

Signed 25.8k rooms (158 hotels) in Q1, or 20.2k excluding the Ruby brand acquisition, compared to 17.7k in the same quarter last year; global pipeline of 334k rooms (2,265 hotels), +9.4% YOY

$324m of 2025’s $900m share buyback programme completed to date, reducing the share count by 1.9%

Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, said:

“We had strong trading performance and development activity for our world class brands in Q1, despite increased volatility in the macro environment. Global RevPAR grew +3.3%, reflecting the strength of our globally diverse footprint and increases across each of our three demand drivers of Business, Leisure and Groups. Americas RevPAR increased by +3.5% led by continued growth in the US, and our EMEAA region also had strong performance, up +5.0%. In Greater China, a -3.5% RevPAR reduction was similar to the previous quarter, as we came up against strong comparatives and further increases in outbound leisure travel.

We celebrated the opening of 14.6k rooms across 86 hotels in the quarter, well over double the same period last year. A strong signings performance of 25.8k rooms across 158 properties was also well ahead of 2024, leading to a +9.4% year-on-year increase in our pipeline. This included 5.7k rooms across 30 hotels from our acquisition in February of premium urban lifestyle brand, Ruby. Since acquiring the brand, a further two Ruby signings have already been added. Demand for quick-to-market conversions to IHG’s brands and enterprise platform continues to be high, representing around 60% of openings and 40% of organic signings in the quarter.

Looking ahead, while noting that some forward economic indicators have softened, our comparable on-the-books global revenue for Q2 continues to show growth on the same position a year ago. Our ability to capture demand across geographies and chain scales, as well as being heavily weighted to domestic stay occasions, are resilient strengths of our business. As a result, while still early, we remain on track to meet full year consensus profit expectations.

The outlook of attractive long-term structural growth drivers for both demand and supply remain unaltered for the travel industry and for IHG in particular. The power of our growth algorithm comes from the compounding nature of increasing fee revenues through the combination of RevPAR, system expansion and ancillary fee streams, which in turn helps to grow margins and, with our strong cash generation, allows us to reinvest in our business and return surplus capital to shareholders. Notwithstanding shorter term macro-economic uncertainties, we remain confident in the strength and resilience of IHG’s enterprise platform and our ability to capitalise further on our scale, leading positions and the fundamental growth drivers for our markets.”

PDF, 237 KB Download the full announcement of our Q1 2025 Trading Update

Picture Credit: © InterContinental Hotels Group 2025


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