Operating profit was $535 million compared to $474 million a year earlier. On the other hand, revenue per available room (RevPar) had a lower performance, since they increased only 0.9% and in the last quarter they fell to 6.5%.
For this new year, the group intends to reduce its costs by 30 million dollars. Andrew Cosslett, president of the corporation, has admitted that there has been a deterioration of the market since November and has been pessimistic in stating that it will continue in 2009. At the same time, the group plans to continue increasing its investments in order to continue growing, since in 2008 IHG incorporated 34,757 rooms, distributed in 237 hotels.
