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Hotelier IHG sees profit leap despite London attacks

Checking in: IHG wants more hotels in London
Checking in: IHG wants more hotels in London
By
08 August 2017
I

nterContinental Hotels Group on Tuesday vowed to keep investing in London despite terror threats, as profits stepped up.

The Holiday Inn owner said visitor numbers to the capital had remained resilient following attacks in Westminster and London Bridge.

Revenue per room in the UK jumped 6.7% in the six months to June 30, with London up 9%. That helped profits rise by $28 million to $326 million (£250 million).

The hotelier behind the Crowne Plaza brand plans to open more hotels in London.

The company recently agreed a deal for a new Hotel Indigo in Leicester Square, which will feature a rooftop bar, and it wants to bring its US Kimpton brand here for the first time.

Global revenue per room rose 2.1%, but IHG saw slower growth in the second quarter, hurt by a decline in the United States due to a later Easter this year.

The shares fell by 178.6p, or more than 4%, to 4232p.

Richard Solomons, its long-standing chief executive, will retire at the end this month. Chief commercial officer Keith Barr is taking the reins.