Deals
InterContinental First-Half Profit Rises on Gains in U.S.
- Americas growth trumps slowdowns in all other regions
- Post Brexit fall in the pound may help company’s bottom line
IHG CEO Remains Upbeat Despite Uncertain Environment
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InterContinental Hotels Group Plc, owner of the Holiday Inn and Crowne Plaza brands, said first-half earnings rose as a resilient U.S. market made up for slowdowns in other regions.
Operating profit before one-time items climbed 2.1 percent to $344 million, with gains in the Americas driving growth, the Denham, England-based company said in a statement on Tuesday. That beat a $332.9 million average estimate by seven analysts in a Bloomberg survey. Revenue fell 8.4 percent to $838 million after the company sold properties in Paris and Hong Kong.