InterContinental Hotels profits from travel rebound | Malay Mail

LONDON, August 10 — InterContinental Hotels Group today announced a return to first-half profits as vaccination rollouts and the lifting of lockdowns boosted travel demand.

InterContinental, whose brands also include Crowne Plaza and Holiday Inn, reported net profit of US$48 million compared with a loss after tax totalling US$210 million in the first half of the previous year. “Trading improved significantly during the first half of 2021, with travel demand returning strongly as vaccines roll out, restrictions ease, and economic activity rebuilds,” IHG chief executive Keith Barr said in the earnings statement.

Barr said domestic leisure bookings in the US and China had led the way, while the company also pointed to some recovery in business travel. But he warned of risk of volatility ahead as “business trips, group bookings and international travel will take time to fully recover”.Following the results update, the IHG share price rose 0.3 per cent on London’s benchmark FTSE 100 index, which was flat overall. — AFP

Holiday Holiday Latest News, Holiday Holiday Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sarawak tourism minister welcomes announcement on reopening of homestays and hotels | Malay MailKUCHING, Aug 9 — Sarawak Tourism, Arts and Culture Minister Datuk Karim Rahman Hamzah today said that his ministry welcomes the announcement on the reopening of hotels and homestays which has been forced to close due to the Covid-19 pandemic. “The relaxation will bring positive impacts to the...
Source: malaymail - 🏆 1. / 86 Read more »

Tourism association in Penang says why reopen hotels if tourism spots will remain closed | Malay MailGEORGE TOWN, Aug 10 ― Association of Tourism Attractions Penang (ATAP) chairman Ch’ng Huck Theng said it is pointless to allow hotels in states under Phases Two and Three of the National Recovery Plan (NRP) to reopen for those who are fully vaccinated if tourism attractions in the areas are...
Source: malaymail - 🏆 1. / 86 Read more »

Travel stocks, positive earnings push London stocks higher | Malay MailLONDON, Aug 10 — London’s FTSE 100 inched higher today as optimism about strong corporate earnings eclipsed fears over a global jump in Covid-19 cases, while Flutter Entertainment climbed after saying it expects to turn a profit in its US business by 2023. The blue-chip FTSE 100 inched 0.1 per...
Source: malaymail - 🏆 1. / 86 Read more »