Holiday Inn owner IHG gets boost as US rebound outweighs China weakness

Shares in IHG, which have been pressured in the past week after a warning from US rival Marriott and US recession fears, rose 4% in early trade
Holiday Inn owner IHG gets boost as US rebound outweighs China weakness

IHG, which also owns the Crowne Plaza, Regent and Hualuxe hotel chains, said the industry had seen a shift in pattern of demand this year from domestic tourism in China to overseas travel to other Asia Pacific countries.

Holiday Inn-owner InterContinental Hotels Group reported a 3.2% rise in revenue per available room in the second quarter as a strong rebound in the US offset weakness in China.

Shares in IHG, which have been pressured in the past week after a warning from US rival Marriott and US recession fears, rose 4% in early trade.

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