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Greater China drives IHG profit growth
A 10.7 per cent increase in RevPAR across the Greater China market has helped to fuel a 26 per cent growth in operating profits at InterContinental Hotels Group (IHG) during 2011.
More than a quarter of the international hospitality firm's pipeline of 180,484 bedrooms will be located in the region, of which around 70 per cent are already under construction.
The news comes less than two years after IHG identified Greater China as one of its key markets.
Among IHG's key signings in China is the 1,224-bedroom Holiday Inn Macau with Sands China, which will become the world's largest Holiday Inn-branded property when it opens.
IHG chief executive Richard Solomons said: "IHG is well positioned globally to benefit from positive long term industry trends and, in particular, growing demand in emerging market."
Details: www.ihgplc.com
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