InterContinental Hotels: no surprises after interim results.

(CercleFinance.com) - On Tuesday InterContinental Hotels Group posted a 1% rise in first-half revenue, and said it was confident for the rest of the year.


IHG, which runs the Holiday Inn and Crowne Plaza brands, announced total revenue of 857 million dollars over the six months to 30 June, compared to 838 million dollars a year ago.

Bryan Garnier analysts said the report was "without any surprise," with results "perfectly in line" and RevPAR slowing down in the second quarter.

The hotel operator said revenue per available room (RevPAR), a key industry measure - grew by 2.1% in the first half of the year, although reached 1.5% in the second quarter, affected by the timing of Easter.

However, new CEO Keith Barr said that the group has decided to increase the group's interim dividend by 10% and remains confident in its outlook for 2017, despite macro-economic and geopolitical uncertainties.

Shares in IHG have fallen by up to 4.3% at 4,223 pence in early trading on Tuesday, making the share the second biggest faller in the FTSE 100 index.

However, note that the shares are still up 16% year-to-date.

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