Solid performance for IHG extended stay brands

George Sell George Sell Uploaded 14 August 2018

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UK: IHG’s interim financial results reveal a healthy picture for its extended stay brands Staybridge Suites and Candlewood Suites.

In the Americas region, for the six months to June 30 2018, 223 Staybridge Suites recorded average occupancy of 77.3 per cent, up 1.7 per cent year on year; ADR of US$120.46, up 2.6 per cent; and REVPAR of $93.09 up five per cent.

The 360 Candlewood Suites properties in the Americas recorded average occupancy of 73.9 per cent, up 0.8 per cent; ADR of $85.63, up three per cent; and REVPAR of $63.27, up 4.1 per cent.

In the EMEAA region, the 10 trading Staybridge Suites properties recorded occupancy of 74.3 per cent, down 1.1 per cent; ADR of $126.23, up 3.4 per cent; and REVPAR of $93.79, up 1.8 per cent.

The pipeline is set to produce considerable growth. In the Americas there are 153 Staybridge Suites in the pipeline (16,402 keys) and 104 Candlewood Suites (9,302 keys).

In EMEAA, there are 16 Staybridge Suites properties in the pipeline, representing 3,022 keys. There are no Candlewood Suites properties currently planned outside of the Americas.

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