IHG Hotels & Resorts has reported a $153 million loss for monetary 2020, in comparison with a revenue of $630 million in 2019.
The figures replicate the persevering with affect of the Covid-19 pandemic world wide.
IHG noticed whole group revenues fall from $4.6 billion in 2019 to $2.Four billion final 12 months.
Keith Barr, chief government at IHG Motels & Resorts, stated: “Final 12 months was clearly probably the most difficult 12 months in our historical past, with Covid-19 closely impacting demand throughout our {industry}.
“2021 has begun with many of those challenges nonetheless in place, with extra significant progress in direction of restoration for the {industry} unlikely till later within the 12 months and depending on world vaccine rollouts, lifting of restrictions and an acceleration in financial exercise.”
Barr stated one other 285 resorts opened throughout the 12 months and a median of virtually one new property signing a day.
“Our most well-liked manufacturers in enticing markets and segments, even stronger know-how and loyalty platforms, and a considerable proportion of our pipeline being beneath development, give us confidence in our capability to realize industry-leading web rooms development because the market recovers,” stated Barr.
“The long-term attractiveness of our {industry} and future development potential stays unchanged.”
Saying its outcomes, the resort big unveiled a 2030 Accountable Enterprise Plan, Journey to Tomorrow, setting out “formidable” commitments for environmental targets, assist for communities and championing range, inclusion and equality.
