InterContinental Hotels Group (IHG) has appointed Jolyon Bulley as Americas CEO.
Details
InterContinental Hotels Group PLC IHG.L:
- INTERCO. HOTELS GRP - AMERICAS CEO APPOINTMENT
- IHG - JOLYON BULLEY TO BECOME AMERICAS CEO FOLLOWING ELIE MAALOUF'S APPOINTMENT TO GROUP CEO
IHG Boss To Step Down As Holiday Inn Owner Sees China Rebound
The above news follows news from earlier this month that IHG Plc chief executive Keith Barr will step down next month after six years at the helm, the Holiday Inn owner has said, sending its shares down despite strong first-quarter results driven by a rebound in Chinese demand.
The 52 year-old American plans to return to his family in the United States, IHG said, adding he would be succeeded by Americas head Elie Maalouf.
Barr ran the company's Chinese business for several years and became CEO in 2017 at a time when online rental companies such as Airbnb had started to capture market share.
"Keith had done a strong job invigorating the brand portfolio and improving the loyalty and digital offering," Bernstein analysts said.
Shares in the Crowne Plaza-owner IHG have risen about 29% under Barr's leadership.
Maalouf, 59, will take over a business returning towards pre-pandemic levels of growth, but with an uncertain economic outlook weighing on consumer-focused industries.
Some relief was seen in early 2023, however, after China lifted its COVID curbs in December.
IHG said first-quarter revenue per available room (RevPAR) - a key measure of the industry's top-line performance - jumped 33%, fuelled by a 75% increase in the Greater China region.
Read More: IHG Boss To Step Down As Holiday Inn Owner Sees China Rebound
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