IHG Hotels & Resorts hit a historic milestone, reaching one million open rooms across its portfolio. Its operating performance in the first half of 2025 showed resilient international strength offset by a cooler U.S. environment.
The company reported global RevPAR growth of 1.8% for the first half of the year. In the U.S., RevPAR was up 1.2% in H1, buoyed by a 3.5% rise in the first quarter but followed by a 0.9% decline in the second quarter. IHG pointed to a combination of macroeconomic pressure and the calendar shift of Easter as factors weighing on performance in the second quarter. Business travel proved the most resilient category, with a 3% year-over-year rooms revenue increase. Group bookings followed at 1%, while leisure—long the industry’s post-pandemic workhorse—was flat versus 2024.
The broader Americas region posted H1 RevPAR growth of 1.4%, with occupancy barely nudging up by 0.1 percentage points and rate increasing by 1.3%.
“Our momentum continued in the first half of 2025, with further achievements in accelerating the growth of our brands, expanding in key geographies, strengthening hotel owner returns, driving ancillary fee streams, delivering cost efficiencies and returning surplus capital to shareholder” commented CEO Elie Maalouf.
The EMEAA region, by contrast, stood out with 4.1% RevPAR growth, driven by both occupancy gains (+0.8 pts) and healthy rate increases (+2.9%). The strongest performances came from East Asia & Pacific (+5.6%) and Continental Europe (+5.1%), while the UK saw a rare stumble with a 0.8% decline. Growth across EMEAA did moderate in the second quarter (Q2 +3.0% vs. Q1 +5.0%), as the calendar of international events normalized after last year’s surge.
Greater China was the only region to post a decline for the half-year, with RevPAR down 3.2% despite marginal gains in occupancy. The drag came from lower business and group demand, and an increase in outbound international travel among Chinese consumers—an indicator of shifting demand rather than waning interest. Tier 1 cities were more stable (-1.1%) than Tier 2–4 markets (-6.0%). Still, IHG remains bullish on the long-term trajectory of the Chinese market, pointing to strong economic fundamentals and continued development momentum.
Strategic Developments
IHG opened a record number of rooms in the first half of 2025 and has celebrated several key
achievements in the past year, including reaching 4,000 open hotels in the US, its 800th open hotel in
Greater China as it commemorates its 50th anniversary in the region and record levels of openings
and signings in EMEAA. Notable openings include:
- Kimpton Mas Olas Resort & Spa in Mexico, featuring eco-luxury accommodations and extensive wellness amenities.
- Holiday Inn Kyoto Gojo in Japan, marking the brand’s return to the historic city.
- voco Malta, offering a stylish urban retreat in St. Julian’s.
- Hotel Indigo Hainan Clear Water Bay, showcasing local cultural elements.
In addition, the company’s development pipeline spans over 2,200 hotels and it continues to invest in technology and loyalty programs, such as IHG One Rewards, which has over 145 million members.
