InterContinental Q1 Revenue Rises

11th May 2010 (Last Updated May 11th, 2010 18:30)

InterContinental Hotels first quarter revenues rose by 3% to $362m with operating profits up 15% at $83m. Global revenue per available room (RevPAR) grew for the first time in 18 months, driven by improved occupancy while Asia Pacific reported a 10% RevPAR growth.

InterContinental Hotels first quarter revenues rose by 3% to $362m with operating profits up 15% at $83m.

Global revenue per available room (RevPAR) grew for the first time in 18 months, driven by improved occupancy while Asia Pacific reported a 10% RevPAR growth.

The company also added 38 hotels in the quarter and removed 44 hotels in line with its growth strategy.

A total of 55 hotels are in the pipeline while 300 new hotels will open this year.