With a profit of 120 million euros (about US$172 million), the hotel company InterContinental Hotels Group (IHG) closed the first half of 2011, which means an increase of 26.6% compared to the same period last year. While revenues reported 598 million euros (US$861 million), that is 10% more than the previous year.
Operating profit reached 189 million euros (US$272 million), 22.8% more than in the same period of 2010. RevPAR rose to 6.7% generated by the presence of Holiday Inn hotels in countries such as China and the United States.
According to IHG Group CEO Richard Salomon, the company's priority is now to "develop our brands, strengthen revenue distribution systems and thus create a stronger foundation for growth." He also added that during the first quarter of the year, IHG achieved profits, specifically for 78 million euros (US$112 million), 9% more than in the same period of 2010.
