Inits red triangle logo was the first ever trademark registered in the United Kingdom.
You can find the link on our corporate website and our last stock exchange announcement. Investors today, but will be making the replay of this presentation available in our website.
So, before I hand over to Keith and Paul, I need to remind you that in the discussions today, the company may make certain forward-looking statements as defined under U.
Keith Barr Thanks, Catherine. Good morning, everyone, and thank you for joining us today. In a moment, Paul will talk you through our financial performance. So, let me first share some quick highlights. We delivered a strong first half performance with our best earnings for a decade, we are driving momentum across each of our regions, which have all performed well in the half, delivering 3.
These initiatives represent a meaningful change in the way that we lead and run our business. Our new organizational structure is being embedded and we are starting to drive some meaningful results. Paul will now spend a few minutes taking you through the detail of our half year results.
Paul Edgecliffe-Johnson Thank you, Keith, and good morning everyone. Before I get into the detail, I should remind you that our commentary focuses on our results from reportable segments.
These exclude the impact of hotel cost reimbursements and the system fund, which are now reported as part of our group results following our adoption of IFRS 15 at the beginning of this year.
Further information, including the event presentation and recording can be found on our website. Looking now to our performance. We continue to expect the savings to be fully re-invested on an annual basis.
This resulted in fee margin growth of 80 basis points year-on-year or basis points at constant currency.
Looking now at our levers of growth. We added 22, rooms to the system in the half. At the same time, as adding these new high-quality representations of our brand we remain focused on removing underperforming properties exiting 10, rooms.
These additions and removals resulted in net consolidated growth of 4. When coupled with RevPAR growth of 3.
On screen now is a slide that we introduced at our full-year results presentation in February to explain our underlying performance more clearly. As a reminder, this table shows rooms available and total RevPAR growth alongside our standard metrics of year-on-year rooms growth and comparable RevPAR growth.
Year-on-year rooms growth and comparable RevPAR growth are good proxies to understand how growing our net system size and revenue per open room translates into incremental fee revenue over time.New Publication.
The new book from Paul Imbach "Antibody Therapy Substitution - Immunomodulation - Monoconal Immunotherapy" is now availableGuido Fanconi Award for Paul Imbach. It is a pleasure to inform you that Paul Imbach received the Guido Fanconi Price at the Annual Meeting of the Swiss Society of Pediatrics in June for his achievements in pediatric hematology and leslutinsduphoenix.com An intercontinental ballistic missile (ICBM) is a guided ballistic missile with a minimum range of 5, kilometres (3, mi) primarily designed for nuclear weapons delivery (delivering one or more thermonuclear warheads).Similarly, conventional, chemical, and biological weapons can also be delivered with varying effectiveness, but have never been deployed on ICBMs.
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At InterContinental® Hotels & Resorts we believe international travel should always be alluring. We are dedicated to those who appreciate and enjoy The InterContinental Life – the glamour and exhilaration of fascinating places, mixed with our international know-how and local cultural wisdom. Results are net of fees and do not guarantee future performance or success for these or other clients. Investment advice by Intercontinental Wealth Advisors, LLC. IT Help Desk © InterContinental Hotels Group InterContinental Hotels Group.
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