Holiday Inn and Crowne Plaza firm misses revenue estimates

While the tourism industry is gradually recovering from the aftermath of the pandemic, hotel chains have seen an uneven recovery in China.

Holiday Inn owner IHG missed full-year revenue expectations as it was impacted by covid curbs in China, while a $750m (€702m) share buyback did little to cushion a drop in its share price. 

While the tourism industry is gradually recovering from the aftermath of the pandemic, hotel chains have seen an uneven recovery in China as a rise in covid infections in the final quarter of the year led to indefinite restrictions.