• IHG Q3 revenue up 5%

Intercontinental Hotels Group this morning reported third quarter revenues up by 5% on the year to $421m.

Operating profit was 7% lower at $115m, but group said that the recovery was "gathering pace". Revpar was up by 8.1%, with occupancy up by 4.0 percentage points and room rate 1.8% higher, the first rate increase since early-2009.

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