Revenge travel brought on by the frustration and anger that people
felt towards COVID-19 for disrupting their travel plans is over,
according to Intercontinental Hotels Group CEO, Elie Maalouf.
“People started travelling really by the end of 2020 as restrictions
started to lift,” he said. “So, we’re really past revenge travel — even
in China,” he told CNBC.
The company’s latest quarterly update showed travel demand has bounced back strongly post Covid-19.
“We’re seeing growth across all of our brands, across all of our
businesses and across all of our regions,” Maalouf said, further noting
that “the population of the middle class and GDP growth is shifting more
east to Southeast Asia, Central Asia, and China. That's why we're very
committed to this region."
Following a recent visit to China, in which he visited Regent
Shanghai on the Bund, which is currently under development, Maalouf
said, “We are really excited about the growth opportunity that Greater
China represents. It is an important strategic market for IHG and
playing a crucial role in the long-term development of the group.
“Following the uncertainties of the past three years, the Chinese economy has demonstrated remarkable resilience.”