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Kirk Kinsell, InterContintental Hotel Group president, on the hotels group’s growth this year, and what consumers and businesses can expect in the t...
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Even the slight slowdown in September travel confidence is on the rise is is good news for the industry.
Also good news for the overall economy joining me today 8% -- is this -- you.
It's -- -- America's president -- himself wonderful hotel chain.
-- customer for many years and it was a great court of crop before I HG up profit rose nine point 2%.
You cut debt and you're also able to raise room rates is that the whole story.
I think the story is a preferred brands that we have and certainly.
Very strong business model with respect to.
How we continue to deliver great guest experiences and got a set of fantastic brands as I said great delivery systems and and really engaged colleagues -- to strengthen the leisure sector or business.
Coming from both right now but we certainly have seen the leisure sector helped support the travel industry -- ever since the recession.
We're continue to see that but business started to look a little bit -- as we went into -- presidential election here in the last couple of months but we're thinking that.
On the back of this decision now people get back to business.
Uncertainties in the dirty word of the last couple of weeks now that were behind -- I'm sorry we've.
We've got the election behind us yet we still have a fiscal cliff and looking at the markets with the president saying hey we're gonna have to tax highest earners.
He depend on that you know leisure marketplace so -- are you concerned that maybe the worst is not behind us.
Well we continue to look out and terms of travel intentions and travel intentions continue to give us some room to thank.
That there is confidence in terms of the economy and that things will get done.
By our elected officials and that we'll get back to business and that both the leisure traveler and the business traveler will.
Could continue to stay in our.
Hotels are you able you raise room rates are you able to.
Will you have to -- continue to raise room rates and do you think that you'll be able to pass an increase -- -- your your regular customers.
While the reflection of our business results and rates I'm going up is really a reflection of a mix of business and not so much raising room rates.
We continue to drive and give value to our customers and that means that we've got different customers are coming in willing to pay more or.
The mix of those customers then translates into a better -- Park what's the Barclay hotel here in New York that obviously -- a property built originally in 1926 by the Vanderbilt family very historical property and it was on the -- -- bidders were going in worth 350 million dollars why is that in play right now.
What some place simply that we had a buyer that we are working with -- exclusively and we both of us agreed that.
It wasn't going to be a great outcome for either one of us so why -- IHTY two.
Sell the property so the sheriff in New York city's flagship.
It is a fight -- -- -- she's it goes back to our strategy that when we became a standalone company in 2002.
We took a position that we wanted to go asset light strategy and an asset -- man selling down assets that we haven't.
And so we've been going about that and returning to shareholders.
Those proceeds in fact we returned over billion dollars this year it's on the back of nine billion dollars.
In total that we return to shareholder and I guess and I she's hiring 30000 workers in the Americas alone.
What travel is economic development which is -- good news about -- about the industry and part of that is that we're doing our best to do our fair share create careers.
Create jobs educate workforce.
And part of that is creation of jobs and yes we have the opportunity to continue to see it.
A very strong pipeline and -- that comes jobs.
What is the number one thing is -- close out here -- that your customers look for in their hotel rooms.
What -- the most important testing to offer.
I think the most important thing offers no surprise.
You know it's all about the promise we keep to our brands we have preferred brands is -- a business center is it is soft pillow.
I don't -- in the bathroom -- well it really is -- winner.
Well I think everyone is is interested in a good night's rest that's what we stay in hotel rooms and if we can deliver good night's rest and deliver that -- -- Good level of promising -- experience people real happy Kirk -- -- thank you so much ashamed as a strategy with us bank.
