InterContinental Hotels Group announced that it open as many as 1,300 new hotels around the globe over the next three years, generating around 160,000 jobs by 2014.

InterContinental Hotels Group, the world's leading hotel group, also said that around half of the potential 160,000 jobs will be created in China.

The announcement was made as the group, which owns the Crowne Plaza and Holiday Inn chains, swung back to profits during the first half year.

The group reported net profit of $141 million (£89.3m) for the period of six months ended June 30, against a loss $29 million in the year ago period.

Speaking on the results, chief executive Andrew Cosslett said that the company benefited from both domestic as well as international travel.

Speaking on the topic, Mr. Cosslett said, “We don’t need people to go anywhere to do business: we’re like a balloon – you press on one end and it pops up somewhere else.”

Revenue climbed 6 per cent to settle at $772 million. Overall revenue per available room jumped 3.9 per cent owing to strong growth in business customers. Revenue per available room in China climbed 30 per cent, helped by the World Expo; while in the company’s third-biggest market, the UK, London reported 10 per cent increase.

The group announced an increase of 5 per cent in dividend to shareholders.