InterContinental: share down after trading update
(CercleFinance.com) - The InterContinental Hotels Group share is down over 2% in London on Friday, after the group's Q3 trading update, which was marked by a 53.
4% slump in RevPAR (revenue per available room), due to a 30-point y-o-y drop in the occupancy rate.
The upmarket hotel chain nevertheless points out that its occupancy rate has improved sequentially, rising from 25% in Q2 to 44% in Q3, and that only 199 establishments (3% of the total) remained closed at 30 September.
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