IHG has today released Q1 RevPAR data, on a fully comparable or "same-store" basis.
Previously IHG has reported franchised hotel RevPAR on a total basis, including all hotels, with owned & leased and managed RevPAR reported on a comparable (“like-for-like” or “same store”) basis. We will now also report franchised RevPAR on a comparable basis, as has been done for owned & leased and managed hotels previously.
A comparable hotel is defined as one which was open, or in our system, for the full preceding financial year. A hotel may also be classified as non-comparable due to temporary closure (for example due to refurbishment), brand change, or due to a localised external event which is disrupting trading (e.g. natural disaster). A full definition is given below.
IHG considers RevPAR of comparable hotels a more useful indicator of underlying trading. Going forward all RevPAR data will be reported on a fully comparable constant currency basis.
For Q1 2007, IHG global constant currency RevPAR growth on a fully comparable basis was +7.7%, compared to +7.6% as previously reported under the old methodology. By region, Americas RevPAR increased from +5.3% to +6.4%, EMEA decreased from +13.0% to +10.2% and Asia Pacific decreased from +12.5% to +10.5%.
A summary of the changes to reported RevPAR with further explanation to previously reported figures is provided below, and an updated supplementary information file with RevPARs on a fully comparable basis is attached to this email.
Please contact Heather Ward on 01753 410197, or firstname.lastname@example.org with any further questions.
Definition of comparable RevPAR
A comparison of RevPAR for a group of hotels that have traded in all months in both financial years. This principally excludes new hotels, hotels closed for major refurbishment and hotels sold in either of the two years.
* The change in definition of comparability results in a change in the number of franchised hotels included in the set disclosed. In addition the number of owned, leased and managed hotels also changes due to among other things disposals and refurbishments subsequent to 31 March 2007.
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