IHG announces profit boost
InterContinental Hotels Group said occupancy at its properties reached record levels last year, boosting its annual operating profit by 9.5% to $702 million.
Revenue per available room rose 1.8%, however overall revenue fell almost 5% year-on-year to $1.72 billion.
IHG said it would hike its annual dividend by 11% to $0.94 and return $400 million to shareholders by the end of June this year as a special dividend.
Chief executive Richard Solomons said: "The fundamentals for the hospitality industry remain compelling.
"Despite the uncertain environment in some markets, we remain confident in the outlook for the year ahead, as well as our ability to deliver sustainable growth into the future."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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