InterContinental Group Reports Slow Growth In Room Revenue
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.
IHG chief executive Keith Barr asserted, "While we will always face macro-economic and geopolitical uncertainties, we remain confident in the outlook for 2017."