InterContinental Hotels Profit Beats Estimates on U.S., China

InterContinental Hotels Group Plc (IHG), the world’s largest provider of hotel rooms, reported profit that beat estimates as revenue per available room climbed in the U.S. and China.

First-quarter pretax profit rose 13 percent to $106 million, the Denham, England-based company said in a statement today, more than the $102.4 million average estimate of seven analysts compiled by Bloomberg. Revenue increased to $409 million from $396 million.

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