• IHG says rates ‘stabilising’

InterContinental Hotels Group saw first-half operating profits increase by 22% to $219m (£140m) with the group reporting the return of corporate travel.

Revenue for the period rose by 6% to $772m, with revpar growth of 3.9%, driven by occupancy, with a 7.4% increase in revpar in the second quarter. Andy Cosslett, CEO, said: "Rates are now stabilising across the world, with most markets seeing rate growth towards the end of the first half.  The economic environment does remain uncertain, however, with short booking windows and limited visibility."

See the full release here:
http://www.ihgplc.com/index.asp?pageid=56&data=Results&year=2010

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