30th Jul 2015 07:11
LONDON (Alliance News) - InterContinental Hotels Group PLC on Thursday reported growth in profit in the first half of 2015 as it achieved growth in revenue per available room in all of the regions in which it operates and said it remains confident in the outlook for the rest of the year.
The hotel operator, which owns brands including Holiday Inn, Crowne Plaza and InterContinental Hotels, reported a 21.5% rise in pretax profit in the six months ended June 30 to USD458 million from USD377 million, as total revenue grew 0.8% to USD915 million from USD908 million.
IHG said that it achieved growth in revenue per available room across all of its regions, comprising the Americas, Europe, Asia, the Middle East and Africa, and Greater China. All in all, global RevPAR was up 5.1% in the period.
IHG will pay an interim dividend of 27.5 cents, a 10% increase on the 25.0 cents it paid in the first half of 2014.
"Looking forward, based on current trading trends, we remain confident in the outlook for the rest of the year," Chief Executive Richard Solomons said in a statement.
Shares in IHG were trading down 1.1% at 2,595.00 pence at the open on Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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