StockMarketWire.com - Hotel chain Intercontinental Hotels said room revenue jumped in Q3 year-on-year, and was 21% below 2019 levels amid improved occupancy and rates following a boost from strong domestic demand over the summer months.

Revenue per available room, or RevPAR, was 21% below 2019's level in the third quarter of the year, but 66% above 2020's.

In the Americas, Q3 RevPAR was down 10% versus 2019, down 43% in EMEA, and down 30% in Greater China.

The average daily rate was in line with 2019 levels, with occupancy of about 60% achieved.

'Domestic leisure demand was particularly strong in a number of markets over the summer, where occupancy and rate climbed back to 2019 levels,' the company said.

The company opened 79 hotels in the quarter and signed another 91 in to our pipeline of 1,800 properties.

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