The owner of the Holiday Inn hotel chain, IHG, has announced that it is resuming dividend distribution, following the announcement of annual earnings that exceeded market estimates, due to strong demand for resort accommodation in the US.
Hotel managers are still recovering from the impact of the pandemic on travel, but analysts say the bucket has already gone through the worst and a strong recovery is expected by March.
“While there may be unexpected challenges ahead, we are confident in our ability to meet and adapt to what both consumers and homeowners need,” said CEO Keith Barr.
The owner of the hotel chains Crowne Plaza, Regent and Hualuxe, stressed that the operating profit for the year ended December 31, amounted to 534 million dollars compared to 219 million dollars a year ago.
Analysts averaged $ 503 million in operating profit.
Revenues per room worldwide, a key performance indicator in the industry, decreased by 17% compared to 2019 in the fourth quarter, with occupancy reaching 56%.
The share of activities in America, its largest market, fell by 7% in the last three months of 2021, while in Wider China, revenues fell by 33% compared to pre-pandemic levels.
The company proposed a dividend of 85.9 cents per share.
Source: Capital
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