Holiday Inn-owner IHG’s CEO Barr to step down
2023.05.05 02:46
© Reuters. FILE PHOTO: IHG logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Holiday Inn owner IHG Plc said on Friday its CEO Keith Barr would step down on June 30 and the company’s Americas CEO Elie Maalouf would succeed him.
Barr, who has been with IHG for over 30 years, took over as the group CEO in July 2017.
“He has rallied a business around a clear strategy with hotel owners and guests at its heart, strengthened IHG’s enterprise platform, and placed the business on a path to long-term sustainable growth and to continue an excellent track record of shareholder value creation,” Chair Deanna Oppenheimer said in a statement.
Hotel operators, who had been grappling over the past year with an uneven recovery in Chinese demand, are now benefiting from pent-up demand in Greater China.
Separately, the Crowne Plaza, Regent and Hualuxe owner reported a 33% jump in first-quarter revenue per available room (RevPAR) – a key measure for a hotel’s top-line performance.
