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FINANCIAL NEWS
IHG reports 5.5% rise in UAE RevPAR in 2012
24 Feb 2013
(MENAFN) InterContinental Hotels Group (IHG) chief executive, Richard Solomons, announced that the hotel operator’s revenue per available room (RevPAR) rose by 5.5 percent in 2012 in the UAE, reported Arabian Business.
Solomons said that the country, in addition to Saudi Arabia, where RevPAR grew by 8 percent, were two of the strongest markets for IHG in 2012.
RevPAR across the Asia, Middle East and Africa region was up by 4.9 percent, whereas revenue increased by USD2 million to USD218 million.
Meanwhile, operating profit in the region rose by USD4 million, reaching USD87.91 million.
It is worth noting that IHG’s global RevPAR gained 5 percent last year, to USD1.8 billion.
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