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Markets News

IHG room revenue sinks as industry battles COVID-19 hit

Oct 23 (Reuters) - Holiday Inn-owner InterContinental Hotels posted a plunge in third-quarter hotel room revenue (RevPAR) on Friday, as the COVID-19 pandemic continued to ravage the travel and hospitality industry.

The company, whose other brands include the Crowne Plaza, Regent and Hualuxe hotel chains, said quarterly RevPAR fell 53.4%, but added that performance had improved compared to the previous quarter.

Reporting by Tanishaa Nadkar in Bengaluru; Editing by Amy Caren Daniel

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