RevPAR growth boosts IHG results
London – 21 February 2017 –
InterContinental Hotels Group reported a slightly better-than-expected yearly profit rise and said it would return US$400 million to investors via a special dividend and share consolidation.
IHG, which runs hotels under brands such as Crowne Plaza, Holiday Inn and InterContinental, posted a 4 percent rise in operating profit to US$707 million, ahead of analysts’ estimate of about US$695 million according to a company-compiled consensus, Reuters reported.
For 2015, the company had reported comparable profit of US$680 million.
IHG said revPAR grew 1.7 percent year-on-year in the three months through December at its hotels … Read More