Profits rise 10% in IHG’s “excellent year”

IHG focuses on building presence in niche areas
InterContinental Hotels Group has reported a 10% rise in profits as it continues to focus on building its presence in niche areas.
The operator of the Crowne Plaza and Holiday Inn brands saw underlying operating profits increase to $648 million. On a reported basis the figure was $651million, a fall of 3%, partly due to the sale of certain hotels.
Underlying revenues rose 6% to $1.7 billion, while RevPar (revenue per available room), a key industry metric, grew 6.1%.
The company moved further into the boutique hotel sector recently with the acquisition of Kimpton Hotels and Restaurants. It is also expanding into wellness with EVEN Hotels and the Chinese market with HUALUXE.
Chief Executive Richard Solomons: “2014 was an excellent year for IHG as we delivered against our long-term winning strategy for high quality growth. Looking into 2015, we face many macroeconomic and geopolitical uncertainties, but are confident that our strategy for high-quality growth coupled with the momentum in the business positions us well for continued strong performance.”
TTG Digital
[pictured: InterContinental London Westminster; photo courtesy IHG]

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