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(Sharecast News) - InterContinental Hotels Group said it was on track to meet full-year consensus profit estimates, despite softer economic indicators and the impact of US tariffs and immigration policies.
The Holiday Inn and Kimpton owner reported a 3.3% jump in global first quarter revenue per available room (RevPAR), a key industry metric, up from 2.6% last year. Analysts expect IHG to report adjusted core earnings of 1.32bn for the full year.
Americas RevPAR increased 3.5% led by continued growth in the US, and EMEAA rose 5%. In Greater China a 3.5% fall was similar to the previous quarter, as IHG came up against strong comparatives and further increases in outbound leisure travel.
"The outlook of attractive long-term structural growth drivers for both demand and supply remain unaltered for the travel industry and for IHG in particular," the group said on Thursday.
US President Donald Trump's global tariff war has sparked fears of a recession in the world's biggest economy and the detention of tourists for perceived visa violations has seen a strong decline in travellers to the country.
Reporting by Frank Prenesti for Sharecast.com
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