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IHG HOTELS & RESORTS 7 May 2021 Highlights ● InterContinental Hotels Group PLC 2021 First Quarter Trading Update Improvement in demand within the first quarter , led by the Americas and Greater China . Group RevPAR down 50.6 % vs 2019 ( down 33.7 % vs 2020 ) ; continued industry outperformance in key markets . RevPAR reflects a 23 % pts reduction in occupancy , with rate sustained at ~ 80 % of 2019 levels . Occupancy of 40.0 % , improving through the quarter ; 223 hotels ( 4 % of estate ) closed at 31 March . Net system size growth broadly flat YTD ; global estate 884k rooms ( 5,959 hotels ) . Opened 7.3k rooms ( 56 hotels ) ; 5.8k added to Essentials and Suites brands , 1.5k in Premium , Luxury & Lifestyle . Removed 9.5k rooms ( 61 hotels ) ; 6.3k ( 31 hotels ) for Holiday Inn and Crowne Plaza in Americas and EMEAA . Signed 14.5k rooms ( 92 hotels ) , ahead of Q1 last year ; total pipeline increased to 274k rooms ( 1,820 hotels ) . Repaid £ 600m UK Government CCFF at maturity ; total available liquidity at 31 March of $ 2.1bn . Keith Barr , Chief Executive Officer , IHG Hotels & Resorts , said : " Trading continued to improve during the first quarter of 2021 , with IHG maintaining its outperformance of the industry in key markets and seeing strong performance in openings and signings as we expand our brands around the world . There was a notable pick - up in demand in March , particularly in the US and China , which continued into April . While the risk of volatility remains for the balance of the year , there is clear evidence from forward bookings data of further improvement as we look to the months ahead . The improved Group RevPAR performance was led by the Americas , which strengthened to -43 % versus 2019 levels compared to -50 % in Q3 and Q4 2020. In EMEAA , the continuation of lockdowns across much of the region meant RevPAR levels were largely unchanged from the prior two quarters . In Greater China , after temporary domestic travel restrictions were lifted , demand recovered quickly in March towards levels seen in the second half of 2020 . We opened a further 56 hotels during the quarter , and these new openings broadly offset hotels removed as part of our continued focus on maintaining the highest quality estate for our guests . Linked to this , we are making good progress on our review of the Holiday Inn and Crowne Plaza estates . Our pipeline grew with 92 signings in the quarter , driven by our industry - leading midscale brands and continued strong owner appetite for conversion opportunities , particularly in our Premium and Luxury & Lifestyle categories . This includes conversions to our voco brand , which has achieved over 50 signings in more than 20 countries in fewer than three years since launch . As the rollout of vaccines becomes more established , travel restrictions lift , and economic activity rebuilds , traveller demand will continue to grow and generate further momentum in an industry recovery over the course of the year . Coupled with our resilience as a business and the important work we're doing to support our owners , develop our brands and expand our pipeline , we're confident that IHG is well positioned for sustained growth . " Regional performance Americas RevPAR was down 43.0 % vs 2019 ( down 28.1 % vs 2020 ) . Occupancy was 46 % , compared to quarters 1-4 of 2020 of 54 % , 28 % , 46 % and 42 % , respectively . US RevPAR was down 40.4 % vs 2019 , with our performance continuing to be ahead of the industry . Our US franchised estate , which is weighted to domestic demand in upper midscale hotels , declined by 36 % vs 2019 , whilst the US managed estate , weighted to upscale and luxury hotels in urban locations , declined by 73 % . There was a notable pick - up in demand in March , benefiting in particular from leisure trips around the Spring Break period . The improvement in trading continued into April , with the booking window extending on strengthening demand for the summer vacation season . Our estate was 99 % open at the end of March across the Americas . Of the 54 hotels still temporarily closed , there remains a greater proportion of upscale and luxury hotels , and also of those in the managed estate . Gross system growth was 0.8 % YTD , with the opening of 4.1k rooms ( 39 hotels ) ; after the removal of 7.3k rooms ( 47 hotels ) , which included 4.5k Holiday Inn and Crowne Plaza rooms , net growth was ( 0.6 ) % YTD . The pace of signing activity has picked up sequentially over recent quarters . There were 3.7k rooms ( 39 hotels ) added to the pipeline in the quarter , representing 21 hotels across our Essentials brands and 18 across our Suites brands . EMEAA RevPAR was down 71.4 % vs 2019 ( down 62.0 % vs 2020 ) . Occupancy was 27 % , compared to quarters 1-4 of 2020 of 54 % , 14 % , 31 % and 29 % , respectively . The performance by region continued to predominately reflect the differing levels of government - mandated closures and restrictions , with RevPAR vs 2019 down 75 % in the UK , 87 % Continental Europe , 75 % Japan , 73 % South East Asia and Korea , 51 % Australia and 49 % Middle East . 1