Hotels group sees profits increase across its regions

InterContinental Hotels Group reported first-quarter room revenue that beat analyst estimates as the owner of the Holiday Inn and Crowne Plaza saw increases in all its regions.

Revenue per available room, an industry measure of occupancy and rates, increased by 5.9%, the England-based company said yesterday. Analysts had predicted 5% growth. The average room rate rose by 3.4% globally, the company said.

“We’ve had a very good first quarter and continue to see strong momentum in the business,” said chief financial officer Paul Edgecliffe-Johnson.