InterContinental Hotels Group reported a profit of $293m for 2010, a 38% increase compared with its 2009 profit.

The UK-based company gained a 5.9% rise in sales during the year to $1.63bn.

InterContinental’s $1bn relaunch of Holiday Inn increased revenue per available room by 5%.

The hotel group added 259 hotels comprising 35,744 rooms to its portfolio and removed 260 hotels containing 35,262 rooms.

InterContinental has a pipeline of 204,859 rooms with 75,000 rooms under construction.