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.