InterContinental Hotels

InterContinental Hotels Group Revenues rise

Due to an increasing demand in the business travel sector, InterContinental Hotels Group’s revenues raised by 6.7% in the third quarter of this year. 70% of the key hotel operator’s profit comes from the US. The firm reports that their profit from every rented room also increased by 7.9%.

General: 

Despite Recovery, Shares of Intercontinental Hotels Went Down

The shares of Intercontinental Hotels lost nearly 2%, despite the fact that they have managed to beat first quarter forecasts. The profits for the three months to the end of March had escalated 15% to $83m, according to the owner of the Intercontinental, Crowne Plaza and Holiday Inn brands. The company shared that revenue per available room, rose for the first time in 18 months.

General: 

InterContinental Reports 19% Fall in Profits

The InterContinental Hotels Group has posted a 19% fall in the yearly net profit, on Tuesday. The group’s net profit declined to $213 million in 2009, from $262 million in 2008.

"Rate, however, remains under pressure and we expect trading to stay tough until business travelers return in greater numbers", said Andrew Cosslett, the CEO

As the credit crunch and economic downturn caused businesses to cut back on travel and conferencing, thereby turning down the revenue in the hotel sector, in 2009.

General: 

25% Discount to be offered to Mother In Laws Staying at Holiday Inn During Christmas

With the aim to "ease Christmas stress", renowned hotel chain Holiday Inn on Tuesday announced that it will be offering a special 25% discount to mothers-in-law staying as guests with the hotel from December 23 to December 29. The offer is to help families looking to "offload" relatives during the highly stressful holiday season.

Holiday Inn has shared that with the move; it is hoping to reduce stress levels in the highly busy days just before and after December 25.

General: 
Business: 

19% Drop in Third Quarter Profits Reported by InterContinental

One of the world's largest hoteliers, the InterContinental Group has posted its third-quarter report, disappointing investors after revealing a 19% drop in profits. The company has shared that despite the slowly recovering economies all over the world, "trading environment remained challenging".

General: 
Subscribe to RSS - InterContinental Hotels