Less China-Dependent IHG Takes Wait-and-See Approach on Coronavirus
Skift Take
IHG CEO Keith Barr seems to be taking quite a level-headed approach to the coronavirus outbreak. Unlike some in the travel industry, he's not pressing the panic button yet and is waiting to see how things play out.
InterContinental Hotels Group CEO Keith Barr has tried to play down the impact of the coronavirus outbreak, adopting a wait-and-see approach to how it might affect the business.
Although China is a big focus area for IHG, it is still a relatively small part of the current revenue mix.
Barr said that while the country was an "important part" of IHG's future, at the moment it is "a smaller part of our business overall" with the area representing less than 10 percent of operating profit and 15 percent of the open rooms.
So far IHG estimates it will take a $5 million hit from lost room revenue for the month of February in the mainland China unit.
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