InterContinental Hotels Group announces big 2012 profits

InterContinental Hotels Group (IHG) has announced that its revenue per room (RevPAR) increased by 2.5 per cent in the UK in 2012.

After releasing its financial figures, the UK-based hotel chain revealed that it has made $614 million (£395.6 million) across the 12 months. This figure was 11 per cent up from the previous year.

This extra revenue would have come from launching two new brands in international markets: the Hualuxe Hotels chain in China and the new Even Hotels in the USA. The firm, which operates both Holiday Express and Crowne Plaza, had a UK RevPAR which was lower than the worldwide average but was still ahead of other European countries.

Richard Solomons, chief executive of IHG, said: "2012 was another year of significant progress for IHG with our preferred brands driving RevPAR up 5.2 per cent, led by the US up 6.3 per cent. IHG’s proven strategy and resilient business model positions us for further good performance in 2013, despite the challenging economic environment.”

After rapidly expanding in the past few years, IHG has been a leading firm in hotel recruitment. Having opened a second property in London and five properties across Europe in the past year, and with another seven deals under its belt, IHG is looking forward to a promising year ahead.

IHG opened a new hotel every 39 hours on average in 2012, and so it is not surprising that the firm employs 350,000 people around the world. IHG has estimated in a statement that it will have 90,000 new positions available in the next few years due to its rapid expansion plans.

The company, which operates over 4,500 hotels around the world, announced this week that its famous Park Lane InterContinental landmark hotel will be sold so that shareholders can receive their return capital. This will be one of the many hotels that it is planning to sell.

Berkeley Scott is a leading London hotel recruitment agency.