Saturday, February 24, 2024

IHG Tech and Digital strategies prove successful

IHG Hotel Group is continuing to reap the benefits of its technology investment, according to its latest figures, said a report in Phocuswire.com.

Creating a ‘digital advantage’ for its customers will continue to be a priority for the group as its efforts reflected in its strategy of  boosting its brands and “substantial investment to innovate our technology, loyalty and distribution platforms” over the past five years, according to CEO Keith Barr.

Barr added that $300 million has been invested on “critical projects such as our industry-leading global reservation system.”

“It has been central to funding the transformation of the loyalty program, launching our new mobile app, revamping our web presence and scaling up our global media campaigns.”

IHG first partnered with Amadeus in 2015 to announce the development of the GRS.

During the full-year 2022 results call with analysts, Barr goes on to talk about the loyalty program IHG One Rewards, which was relaunched last year and has 115 million members.

He says bookings from loyalty members account for about half of all room nights booked, with members “nine times more likely to book direct and spend 20% more than non-members.”

“We’ve seen some fantastic progress on our loyalty [key performance indicators] in 2022 with 11 per cent more points redeemed, 16 per cent more reward nights booked versus 2019 and more than one million milestone rewards redeemed since we introduced them. Enrollments are up 27 per cent, adding 12 million more members, all of which is a significant attraction for our hotel owners, both current and prospective.”

IHG also unveiled a new mobile app in 2022, and according to Barr, 58 per cent of all digital bookings now come from mobile devices, which is also the group’s fastest-growing revenue channel. He adds that mobile app revenue increased 30 per cent in 2022 compared with 2019.

Overall in 2022, the company reported a 34 per cent increase in group revenue to $3.89 billion and an operating profit of $628 million, up 27 per cent year-on-year.

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