- Global RevPAR rose 5.3 percent in Q3.
- U.S. RevPAR increased 6.9 percent.
- IHG opened 92 hotels and signed 164.
IHG HOTELS & RESORTS’ global RevPAR rose 5.3 percent in the third quarter, its fastest growth this year. U.S. demand offset a decline in Greater China.
The Americas led with 6.8 percent growth in the quarter ended Sept. 30., IHG said in a statement. Europe, the Middle East, Asia and Africa rose 5 percent, while Greater China fell 3.3 percent. In the third quarter of 2025, global RevPAR rose 0.1 percent.
“RevPAR growth accelerated in the third quarter 5.3 percent plus as IHG’s breadth by geography, brands and stay occasions captured increasing guest demand around the world,” said Elie Maalouf, IHG’s chief executive officer. “Our U.S. performance was very strong, with growth across all brands.”
IHG remains confident of meeting full-year 2026 consensus expectations.Photo credit: IHG Hotels & Resorts
Global RevPAR rose 4.6 percent year to date, the statement said. ADR increased 3.9 percent in the quarter, while occupancy gained 0.9 percentage points. On a comparable-hotel basis, rooms revenue rose 10 percent for groups, 5 percent for leisure and 4 percent for business travel.
IHG said it remained confident of meeting full-year 2026 consensus expectations. The outlook includes adjusted earnings per share growth around the upper end of its 12 percent to 15 percent target, an annual average over the medium to long term. That would mark the third consecutive year of growth near the top of that range.
U.S. RevPAR rose 6.9 percent in the quarter and 5.4 percent year to date, IHG said. In the Americas, ADR increased 3.9 percent and occupancy gained 2.1 percentage points to 73.9 percent. Regional rooms revenue rose 12 percent for groups, 7 percent for leisure and 6 percent for business travel.
EMEAA RevPAR rose 5 percent in the quarter and 3.7 percent year to date, while the Middle East was broadly flat. Greater China remained up 1 percent year to date despite the quarterly decline. IHG attributed China’s drop to adverse weather and changes in public holiday timing.
In August, IHG reported 4.1 percent global RevPAR growth for the first half of the year, while operating profit from reportable segments rose 10 percent to $665 million.
Development and shareholder returns
IHG operated 7,186 hotels, with a pipeline of 2,426 hotels, up 3.2 percent year-on-year.Photo credit: iStock
IHG opened 92 hotels with 12,900 rooms in the third quarter, bringing year-to-date openings to 289 hotels and 44,400 rooms, the statement said. It signed 164 hotels with 21,100 rooms, taking year-to-date signings to 516 hotels and 70,300 rooms.
As of Sept. 30, IHG’s system comprised 7,186 hotels and about 1.06 million rooms. Its development pipeline held 2,426 hotels and 353,000 rooms, up 3.2 percent from a year earlier. Gross system growth was 6.3 percent year over year, while net system growth reached 4.9 percent.
Net system growth was 10.3 percent in Greater China, 6 percent in EMEAA and 2.1 percent in the Americas. Development remained split roughly evenly between new builds and conversions. Brands including voco, Vignette Collection, Garner and Noted Collection continued to expand.
IHG had spent $707 million of its $950 million 2026 share buyback program by Oct. 21, repurchasing 4.7 million shares and reducing its share count by 3.1 percent. Including about $285 million in ordinary dividends, IHG expects to return more than $1.2 billion to shareholders this year.
The company issued €850 million in bonds in September. After currency swaps, its outstanding bonds totaled $4.6 billion, with a blended borrowing cost of about 5.1 percent. IHG expects adjusted interest expense of $230 million to $240 million in 2026 and projects an increase of $40 million to $60 million in 2027.
Maalouf said IHG expected another year of record development activity, with 2026 set to become its fifth consecutive year of accelerating net system growth.
IHG named Leanne Harwood senior vice president of global sales, overseeing sales strategy, performance and customer engagement.
