Holiday Inn owner InterContinental Hotels Group (IHG) surprised the market with a 0.1% rise in third-quarter global revenue per available room (RevPAR) on Thursday as growth across Europe and Middle East made up for weak performance in the U.S.

Analysts had expected a 0.1% global RevPAR fall for the hotel operator in the quarter ended September 30, according to a company-compiled consensus.

IHG's growth bucks the trend in the travel industry, which has been rattled by shrinking consumer spending on leisure items as U.S. President Donald Trump's trade policies raise concerns of pricier goods and higher living expenses.

Despite the growth seen in other markets, IHG's U.S. RevPAR fell 1.6% in the quarter, compared to growth of 1.2% in the prior year.

Peer Hilton Worldwide on Wednesday cut its 2025 room revenue forecast and warned that the ongoing U.S. government shutdown was affecting travel demand in the country.

IHG said it expects to finish 2025 in line with consensus profit and earnings expectations.

(Reporting by Raechel Thankam Job in Bengaluru; Editing by Harikrishnan Nair and Mrigank Dhaniwala)