Holiday Inn Owner IHG to Report Higher Key Metric for Third Quarter
Dow Jones
Sep 29
1155 GMT - InterContinental Hotels Group's third-quarter update is likely to show continued positive momentum in the U.S. and a positive summer across Europe and APAC, Jefferies analysts write. The investment firm expects the Holiday Inn and Crowne Plaza owner to report third-quarter revenue per available room--a key industry metric--of 4.1% compared with 3.5% in the second quarter. For the year, RevPAR is seen 3.7% higher, reflecting better-than-expected trends in the U.S. and the EMEAA region in the third quarter. IHG is due to report its trading update on Oct. 22. Jefferies has a buy rating on the stock and $195 target price. Shares are up 2.7% at $162.75.
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