Skift Take
IHG posted its strongest quarter of hotel openings in recent years, as the hotel giant accelerates its global expansion plans.
InterContinental Hotels Group (IHG) saw strong momentum in its expansion efforts in the third quarter. The hotel group added 17,500 rooms across 98 hotels, more than doubling its growth pace from the same period last year.
"We're headed toward one of our biggest years ever in terms of both hotel openings and signings," said Michael Glover, chief financial officer, in a call with analysts Tuesday.
IHG's development growth was the highlight of an otherwise mostly uneventful financial update from the owner of Holiday Inn, Crowne Plaza, and 17 other brands. Executives said they broadly saw a continuation of positive performance trends.
"We're very pleased with