Slower US growth at Holiday Inn owner hits shares

InterContinental Hotels Group reported slower growth in revenue per room in the second quarter, sending its shares down 4%, as a late Easter weighed on its US performance.

The operator of brands such as Crowne Plaza, InterContinental, and Holiday Inn, said that revenue per available room grew 1.5% in the three months to the end of June, down from 2.7% in the first quarter and 2.5% a year earlier.

The Easter holiday, when there are fewer business travellers, fell in the second quarter this year from the first quarter last year.