IHG said its financial position remains robust. The Group’s gross capital expenditure guidance for the year is unchanged at up to $350 million.

InterContinental Hotels Group PLC (IHG.L, IHG) reported Global first-quarter comparable RevPAR growth of 5.9%, driven by rate increase of 3.4% and growth in all four regions. RevPAR was up 6.2% in Americas, with growth in the US of 6.6% and Mexico of 8.8%, partially offset by softer trading in Canada and Latin America.

For Europe, RevPAR was up 5.8% with solid growth in the UK and Germany. UK growth of 7.7% was driven by rate increases in both London and the provinces.

The Group said its financial position remains robust. The Group's gross capital expenditure guidance for the year is unchanged at up to $350 million.