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InterContinental Group Reports Slow Growth In Room Revenue

By Dave Simpson

After a later Easter impacted its US performance, the second quarter of 2017 saw slower growth in revenue per room for InterContinental Hotels Group, with shares dropping by 4%.

The Group's revenue per available room grew 1.5% during the three months to the end of June, which was down from both the 2.7% growth it experienced in the year's first quarter and the 2.5% growth during the same period in 2016, reports The Irish Times.

However, due to a strong performance in the first quarter, the group recorded a 7% increase in its six month underlying operating profit to $365 million.

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IHG chief executive Keith Barr asserted, "While we will always face macro-economic and geopolitical uncertainties, we remain confident in the outlook for 2017."

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