Cautious optimism at the InterContinental Hotels

By: trademagazin Date: 2009. 11. 11. 00:02

InterContinental Hotels Group's revenue and profit decreased in the third quarter. The company carefully considers the prospects for the rest of the year, but it detects signs of stabilizing, although the room rates are still depressed.

InterContinental Hotels is the world's largest group on the basis of the number of rooms. The hotel group has 641,000 rooms in 4390 hotels all over the world. The group includes, inter alia, the Holiday Inn, the Intercontinental and Crowne Plaza’s network, which operates a franchise basis.
The group's operating profit was 124 million USD between June to September, 19 percent less than a year ago.
The after-tax profit was 68 million USD, 25 percent less than the 91 million USD of a year earlier – reports

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