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InterContinental third-quarter profit up 51 pct

InterContinental third-quarter profit up 51 pct

InterContinental Hotels Group PLC, which operates InterContinental hotels, Crowne Plaza and Holiday Inn, has reported a 51 percent rise in third-quarter net profit to $103 million.
InterContintental also said Tuesday it will create 3,000 jobs in Britain as part of a multimillion dollar investment that includes two hotels in the 2012 Olympic village.
Revenue for the three months to the end of September rose 5 percent to $421 million, from $401 million. Revenue per available room, a key industry measure, rose 8.1 percent on a global constant currency basis.
Chief Executive Andrew Cosslett says the first return to rate growth since early 2009 is a "clear sign that the recovery is gathering pace."
InterContinental shares are 4.7 percent lower at 1,145 pence ($18.52).


Updated : 2021-10-20 03:41 GMT+08:00