Hotelier IHG posts upbeat first quarter on high U.S. room demand

British hotel giant InterContinental Hotels Group, operator of the Holiday Inn, Crowne Plaza and Kimpton brands, said Friday that room rates in its key U.S. market increased 4.4 percent in the first quarter.

The company, whose Americas headquarters is in suburban Atlanta, said room demand in the United States is at record levels while supply is low, leading to the highest occupancy IHG ever recorded in the first quarter.

RevPAR, or revenue per available room, grew 6.6 percent in the U.S. and 8.8 percent in Mexico. Overall RevPAR — 6.2 percent — was partially offset by softer trading in Canada and Latin America, the company said.