IHG Hotels & Resorts has noted a $153 million loss for economic 2020, in comparison to a profit of $630 million in 2019.
The figures mirror the continuing impact of the Covid-19 pandemic all around the earth.
IHG observed full group revenues fall from $4.6 billion in 2019 to $2.4 billion very last 12 months.
Keith Barr, chief executive at IHG Inns & Resorts, claimed: “Last yr was clearly the most complicated yr in our history, with Covid-19 intensely impacting demand across our business.
“2021 has started with lots of of these problems even now in area, with a lot more meaningful progress toward recovery for the industry not likely right until later on in the yr and dependent on world wide vaccine rollouts, lifting of limits and an acceleration in economic action.”
Barr said one more 285 lodges opened in the course of the calendar year and an regular of almost one new residence signing a working day.
“Our most popular makes in interesting marketplaces and segments, even much better technological know-how and loyalty platforms, and a sizeable proportion of our pipeline being beneath building, give us self esteem in our skill to achieve industry-top internet rooms progress as the market place recovers,” explained Barr.
“The extended-phrase attractiveness of our marketplace and foreseeable future progress prospective stays unchanged.”
Announcing its results, the hotel huge unveiled a 2030 Liable Business enterprise Strategy, Journey to Tomorrow, environment out “ambitious” commitments for environmental targets, guidance for communities and championing range, inclusion and equality.