InterContinental Hotels reports H1 profit rise and dividend hike

By Laura Mullan
InterContinental Hotels Group PLC have announced a 9.4% rise in half year pretax profit thanks to strong revenue growth. Revenue rose 2% to US$857mn fr...

InterContinental Hotels Group PLC have announced a 9.4% rise in half year pretax profit thanks to strong revenue growth.

Revenue rose 2% to US$857mn from US$838mn last year.

The British multinational hotel group - whose brands include Holiday Inn, Crowne Plaza, and Hotel Indigo - says it has benefitted from an improved revenue per room or RevPAR, a popular performance metric used in the hotel industry.

RELATED STORIES:

InterContinental Hotels generated a global comparable RevPAR growth of 2.1%, led by improved occupancy which contributed 0.9 percentage points.

Keith Barr has been CEO of InterContinental Hotels Group PLC since July 2017.

He said: “We continue to make good progress in executing our well-established strategy to deliver high-quality sustainable growth, and during the half we passed the landmark of over 1mn open or pipeline rooms.

“I feel privileged to be the new CEO of IHG and to have the opportunity to build on the strong performance we have delivered.”

Additionally, the company has decided to increase the interim dividend for investors from 30.00 cents to 33.00 cents.

The CEO also reaffirmed the company’s plans to push forward with technological innovation, which includes the development of a new online booking system for Holiday Inn, among other projects.

Share
Share

Featured Articles

Careers Passport: flagship programme to help jobseekers

A fast-track job scheme designed to remove barriers to enter the food and drink industry has seen over 1,000 training opportunities created.

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink