well Ihg but even better Wyndham

Keith Barr

All in all, those for the summer of 2021 are more than positive for the large hotel companies. The Accor and Hilton figures prove it, but also those of Ihg and Wyndham. Of course, there are differences. And also relevant. We substantially reflect the greater or lesser leisure vocation of the various operators, as well as their dependence on international demand. Those who have a portfolio that is more distributed in tourist destinations characterized by a strong domestic or proximity demand have in fact recorded results that are clearly superior to those who, on the other hand, have a more consistent corporate-business offer and above all a business basin with more international traits.

This is the case, for example, of Ihg and Wyndham. InterContinental numbers are more than good, given the context, but average revenues per available room (revpar), while growing 66% compared to Q3 2020, still remained 21% lower when compared to the pre-Covid era (2019). A performance resulting from the combined provision of tariffs substantially in line with those of two years ago, accompanied however by average occupancy rates still at around 60%. “Sales continued to improve significantly during the third quarter – said the CEO of Ihg, however. Keith Barr -. The revpar has approached pre-pandemic levels, with the progressive return of tourists to our hotels. Domestic demand, in particular, was buoyant in a number of markets over the summer. But also the business segments, that of groups and international travel have shown encouraging signs “.

Better still, as mentioned, however, it went to a predominantly domestic group like Wyndham, whose revpar reached 97% of pre-Covid levels. In the third quarter of the year, the company was thus able to total net profits of 103 million dollars, over 70 million more than the 27 million in 2020. The gross operating margins (ebitda) then almost doubled, going from 103 million. a year ago to 194 million this end of September. “Our business model, based on a select-service franchised product, continues to drive the recovery of the business, registering much better revpar than in 2019”, underlined the president and CEO of the company. Geoffrey Ballotti.

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