StockMarketWire.com - InterContinental Hotels Group said profits jumped by nearly quarter even as revenue per room growth in the first half of the year was hurt by a fall in occupancy.

For the six months to 30 June , pre-tax profits rose 24.6% to $375m as revenue increased 12% to £1.01bn.

Global revenue per available room (RevPar), a key industry measure, slowed to 0.1% for the half, down from 0.2% last year, with Revpar in Americas up 0.1%, China down 0.3% and EMEAA up 0.27% from a year earlier.

Occupancy fell 0.2% for the half, which the company blamed on tough comparables from hurricane related demand in the first half of last year.

The company opened 11,000 rooms (96 hotels) during the half, with continued strong pace for its Holiday Inn Brand Family, and it also opened second and third avid hotels.

'We continue to focus on a high-quality estate and removed 6k rooms (46 hotels). Together, this drove a 2.7% increase in our net system size,' the company said.

The company proposed a 10% increase in the interim dividend to 39.9 cents.




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