How is the World Cup expected to impact Holiday Inn's owner?

Holiday Inn's owner, IHG, anticipates the World Cup will drive additional demand and lead to less turbulent trading conditions in the United States.

What were IHG's recent financial results?

IHG reported a 7% increase in total revenue to £1.85 billion and a 13% rise in profits to £960 million.

Why is IHG optimistic about the US market this year?

IHG is optimistic due to the expected boost in demand from the World Cup, hoping to counteract previous declines in foreign tourism and a slight dip in revenue per available room.

Home / Business and Economy / IHG Bets on World Cup for US Travel Recovery

IHG Bets on World Cup for US Travel Recovery

18 Feb

•

Summary

Holiday Inn's owner anticipates improved US trading conditions.
The World Cup is expected to drive additional demand in the US.
IHG's total revenue saw a 7% increase to £1.85 billion.

IHG Bets on World Cup for US Travel Recovery

Holiday Inn's parent company, IHG, is looking to the upcoming World Cup as a key driver for improved business performance in the United States. The hospitality group anticipates 'less turbulent' trading conditions this year, with the tournament expected to provide a substantial boost in demand.

This optimistic forecast comes after a challenging period for tourism in the US, partly due to tightened border policies. In the previous year, IHG experienced a 0.1% decrease in revenue per available room in the US, and foreign tourist numbers saw a 6% drop. However, the joint hosting of the World Cup by Canada, Mexico, and the US is projected to reverse this trend.

IHG's overall financial performance has been strong, with total revenue increasing by 7% to £1.85 billion and profits rising by 13% to £960 million. This solid performance has led to its shares nearing an all-time high.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.