(Sharecast News) – Hotels operator IHG on Tuesday reported a sharp jump in half-year profit as the travel sector continued to rebound from the Covid pandemic.
Operating profit at the Crowne Plaza and Holiday Inn owner rose 62% to $584m, with revenue per available room (RevPAR) – a key industry metric – up 24% year on year. Group revenues increased 24% to $2.2bn.
“In the Americas and EMEAA regions, leisure demand has remained buoyant and business and group travel continued to strengthen, while in Greater China, demand has rebounded rapidly,” the company said in a statement.
Reporting by Frank Prenesti for Sharecast.com
