Travel demand has reached a “sustainable place,” said Intercontinental Hotels Group CEO Elie Maalouf. “We’re pleased with the demand…
"People started traveling really by the end of 2020 as restrictions started to lift," he said."So we're really past revenge travel — even in China."
That's despite a 3% drop in revpar, compared to 2019, in large cities in Greater China, which are more dependent on international travelers.Maalouf told CNBC that lack of"airlift," or flight capacity, into China is below 50% of prepandemic levels, which is affecting travel recovery in cities like Beijing, Shanghai, Guangzhou and Shenzhen.
The company currently operates more than 6,200 hotels worldwide and has another 1,978 in the pipeline. "In the United States, there are about 9,000 hotels that we think are interested in joining a system. Not that we'll have 9,000 hotels joining us, but we think a strong proportion will."The CEO disputed reports that IHG is establishing a Middle East regional headquarters in Saudi Arabia.
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