IAHI, the owners’ association for InterContinental Hotel Group-brand hotels worldwide, said its members are more optimistic about business growth in the next 12 months. The positive outlook is because its members report their hotels are performing better than last year.
Although 80 per cent of owners are challenged with revenue growth, they believe financial performance will return to pre-recession levels in the next two years. Nearly half of respondents say they are “recovering slowly but still struggling.” However, 15 per cent say they have made a successful recovery, which is an increase of 104 per cent over last year, from 24 per cent to 49 per cent. (The survey was distributed and completed prior to the U.S. downgrade by S&P and resulting market turbulence, notes IAHI in a statement.)
IAHI stands for International Association of Holiday Inns. But association spokesman Chris Byrum of Atlanta said, “As of October 24, we will be introducing a new name and logo at the IHG Americas Investors & Leadership Conference in Vegas.”