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After two years severely impacted by the health crisis, the fiscal-year 2022 posted a solid and sustainable rebound in Group’s activity. The performance of hotels over the second half of the year surpasses pre-crisis levels in almost all our regions. Only Asia, a region impacted by China's strict zero-Covid policy until year end, is still significantly below 2019 activity levels.
InterContinental Hotels Group H2 exceeded 2019 levels for both RevPAR and profitability
In 2022 we saw demand return strongly in most of our markets, pushing Group RevPAR back close to 2019 levels and fee margin ahead. It’s particularly pleasing that in the second half of the year we exceeded 2019 levels for both RevPAR and profitability. Looking to 2023, while there are economic uncertainties, we expect continued strong leisure demand in many markets, alongside further return of business and group travel and the ongoing reopening of China.
IHG, which has over 6,100 hotels across the world, said demand was strong across most regions except for China, where it was impacted by Covid restrictions.
InterContinental Hotels Group's recovery is continuing nicely as 2022 numbers still come up against COVID-affected comps. See why IHG stock is a Buy now.