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IHG profit up 11%
- UK: Wednesday, February 20 - 2013 at 06:34
InterContinental Hotels Group (IHG) has reported an 11% increase in 2012 profit, underpinned by a strong US business and expansion in developing markets, Reuters has reported. Operating profit reached $614m, while annual revenue rose 5% to $1.84bn, IHG said. Growth in global revenue per available room (RevPAR) grew 5.2% in 2012, with its core US market 6.3% ahead and China up 5.4%. The British group, which operates more than 670,000 rooms in over 4,500 hotels worldwide, said it was positioned for a further good performance in 2013 with January global RevPAR up 6.6%. IHG opened a net 18,000 rooms during the year and has a pipeline of around 169,000, the firm said.
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