CEO of IHG Keith Barr on Retirement

IHG Plc, the company that owns Holiday Inn, announced on Friday that its CEO, Keith Barr, would retire on 30 June and be succeeded by Elie Maalouf as CEO of the Americas.

In July 2017, Barr, who has worked for IHG for more than 30 years, assumed the position of global CEO.As per Chair Deanna Oppenheimer's statement, "He has rallied a business around a clear strategy with hotel owners and guests at its heart, strengthened IHG's enterprise platform, and placed the business on a path to long-term sustainable growth and to continue an excellent track record of shareholder value creation."

The pent-up demand in Greater China is now helping hotel owners, who had been struggling with an inconsistent recovery in Chinese demand during the previous year. Separately, the owner of the Crowne Plaza, Regent, and Hualuxe hotels reported an increase of 33% in first-quarter revenue per available room (RevPAR), a crucial indicator of a hotel's profitability.