InterCon posts 38% profit drop

12 August 2009

InterContinental Hotels Group, which includes the Crowne Plaza and Holiday Inn brands, fell 38% to $179m in H1 2009 from $291m in the same period last year, The National has reported. The group's Middle East operations saw an 8.5% fall in revenue per available room (REVPAR) in the first half.'Trading was very challenging throughout the first half of the year and we expect the remainder of 2009 to be tough,' said CEO Andrew Cosslett. The group has 72 hotels in the Middle East.

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