IHG said it expects Q1 Global RevPAR to decrease 25%, including a 55% decline in March, in line with the business update provided on March 20.
Business in Greater China continues to improve steadily, with only 12 out of 470 hotels now closed. In the US, around 10% of the hotels are currently closed, and, in EMEAA, about 50% of hotels are currently closed.
Occupancy levels in comparable open hotels are currently in the low to mid 20% range across the business, according to the company.
IHG will provide its first quarter 2020 report on May 7.
Read original article