InterContinental profits lifted by upturn in US and China

InterContinental profits lifted by upturn in US and China

InterContinental Hotels Group, the world’s largest hotel company, saw operating profits rise by 26% last year to $559 million as it outperformed the industry in key markets such as the US and China.

Total revenue rose by 9% to $1.7 billion with global growth in revenue per available room (revPAR) of 6.2%.

The Holiday Inn parent added 2% more rooms to give total capacity of 658,348 rooms in 4,480 hotels. Nineteen per cent of room revenue came through IHG's direct websites, up from 18% in 2010.

Chief executive Richard Solomons said: “The strength of our brands, underpinned by our global systems and scale, delivered 6.2% growth in RevPAR in the year.

“We have continued to outperform the industry in key markets such as the US and Greater China where RevPAR was up 7.9% and 10.7% respectively.

“We are strengthening our business through developing our brand portfolio supported by targeted investment. We also ensure that our hotels with our best-in-class delivery systems are known for industry-leading guest experiences delivered by talented people and dedicated owners.”

He added: “Looking ahead, in spite of considerable uncertainty in the eurozone, IHG is well positioned globally to benefit from positive long term industry trends and, in particular, growing demand in emerging markets.”

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