IHG’S U.S. REVPAR DIPS 1.9 PERCENT IN FIRST QUARTER OF 2024

IHG Hotels & Resorts’ first-quarter 2024 RevPAR in the Americas declined by 0.3 percent year-over-year. This was driven by a 1.9 percent decrease in U.S.
RevPAR, countered by an 11.3 percent increase in Canada, Latin America, and the Caribbean combined. Occupancy dropped to 63.1 percent, down by 1.1 percentage points,
while ADR in the Americas rose by 1.5 percent.

Meanwhile, IHG’s global RevPAR increased by 2.6 percent in the first quarter and the company opened 6,200 rooms (46 hotels) globally, marking an 11.1 percent
year-over-year increase after adjusting for Iberostar, IHG said in a statement.

“Global RevPAR in the first quarter of 2024 continued to grow, up 2.6 percent, reflecting the strength of our globally diverse footprint,” said Elie Maalouf,
IHG Hotels & Resorts’ CEO. “There was an impressive performance in EMEAA, which was up nearly 9 percent. The Americas, having already recovered very strongly,
was broadly flat due to some adverse calendar timing, and Greater China grew by 2.5 percent and will continue to benefit from returning international inbound
travel this year. Global occupancy moved up to 62 percent and ADR increased by a further 2 percent as pricing remained robust, reflecting the complete return of
leisure, business and group travel.”