IHG confident as profits rise

Hotel group reports 9% rise in operating profit
InterContinental Hotels Group reports a 9% rise in operating profit, with revenues up in all its key markets. The company remains positive about its future performance, says Richard Solomons, IHG’s chief executive.
“Looking forward, based on current trading trends, we remain confident in the outlook for the rest of the year,” he said.
Operating profit rose from $310 million to $337 million with revenue increasing by 1% to $915 million.
Revenue per available room, (revpar), a key metric in the hotel industry, improved in the Americas region (+5.4%), in Europe (+5.1%), in Asia, Middle East and Africa (+5.4%) and in greater China (+1.5%).
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