Intercontinental sees trading uplift

The owner of InterContinental Hotels and the Holiday Inn today said tourist bookings were “recovering gradually” in the wake of the London terrorist attacks in July.

The owner of InterContinental Hotels and the Holiday Inn today said tourist bookings were “recovering gradually” in the wake of the London terrorist attacks in July.

InterContinental Hotels said its key measure of revenues per available room (revpar) in the UK rose 1.8% in the three months to September 30 and that it had out-performed competitors as corporate bookings remained strong.

In the UK, the company has 237 franchised hotels and manages one – the InterContinental in Hyde Park Corner. Overall, its 3,500 hotels produced operating profits of £56m (€82m) during its third quarter, up from £46m (€67m) on the same period last year.

It has 539,400 rooms worldwide, which it plans to increase by around 60,000 by 2008 with a major investment in China.

The company said revpar increased across its three main strongholds of the Americas, Europe and Asia Pacific, while hurricanes and strong winds failed to dent profits in America and the Caribbean where InterContinental hotels had a 28% revpar increase and a figure for the Holiday Inn of 10%.

Strong demand for the brand in China helped increase revpar by 10.2% during the quarter.

Chief executive Andrew Cosslett said: “Trading in our two key markets, the US and the UK remained strong and we saw revpar growth in each of our three regions.

“Sadly we have witnessed further destructive events around the world but we can be proud of the way our people have responded.”

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