Real Estate

InterContinental Says US Hotel Demand Defies Economy

CEO Elie Maalouf says hotels group saw strong start to summer
Stocks tanked on Monday amid concerns about the US economy

WATCH: Elie Maalouf, chief executive officer at InterContinental Hotels Group Plc, speaks on Bloomberg Television.Source: Bloomberg

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By Bashirat Oladele

August 6, 2024 at 10:25 AM UTC

Corrected

August 7, 2024 at 7:19 AM UTC

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Hotel demand in the US shows no sign of a potential recession that triggered Monday’s global market selloff, according to the chief executive officer of InterContinental Hotels Group Plc.

The UK-based company, which operates the Holiday Inn and Crowne Plaza brands, saw the strong start to summer continue into July and August, Elie Maalouf said in an interview with Bloomberg TV.