IHG’s room revenue growth accelerates, with China still under pressure

InterContinental Hotels Group ($IHG) reported third-quarter 2026 growth of 5.3% in revenue per available room at constant currencies, bringing the year-to-date increase to 4.6%. The Americas rose 6.8% and Europe, the Middle East, Asia and Africa increased 5.0%, while Greater China declined 3.3%. Globally, average room rates rose 3.9% and occupancy improved by 0.9 percentage points.

The group opened 92 hotels containing 12,900 rooms during the quarter, and net room-system growth reached 4.9% year on year. Management remained confident of meeting full-year 2026 market expectations, including adjusted earnings-per-share growth around the upper end of its 12–15% medium-term annual growth target. The outlook includes a financing headwind: IHG’s preliminary estimate suggests adjusted interest expense could rise by $40–60 million in 2027 from its expected 2026 level of $230–240 million.

Sources:

• RNS via Investegate
• SEC filing