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By Jaime Llinares Taboada
InterContinental Hotels Group PLC said on Tuesday it made a profit in the first half of the year as demand improved from the previous year.
The hotel chain made a net profit of $ 48 million in the six-month period ended June 30, down from a loss of $ 210 million a year earlier – when travel restrictions took a heavy toll on the business.
First-half operating profit reached $ 138 million from a loss of $ 233 million, he said.
Revenue per available room – an important industry metric – grew 20% year on year, reflecting higher demand, though 43% below 2019 levels, he said. .
InterContinental said performance has improved significantly, leading to a rebound in profitability. He said he would not be paying an interim dividend for the period.
Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT
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