World’s largest hotel group: “trading still tough”
Room rates are still under pressure as business travellers stay home and trading continues to be tough.
This is the message from InterContinental Hotels which released financial results today which showed profits fell 34%.
However, this figure was an improvement on expectations by the world’s largest hotel group which has the Crowne Plaza and Holiday Inn brands. The group said occupancy had, however, stabilised in the fourth quarter.
By Dinah Hatch
Phil Davies
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