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IHG sees green shoots of a recovery after pandemic hits…

Aug 11 – InterContinental Hotels said on Tuesday it was seeing some “very early” signs of a recovery in demand as coronavirus restrictions ease in major markets, with July room revenue expected to be down 58%.

The Holiday Inn owner reported a 52% plunge in average room revenue for the first half.

Its operating loss was $233 million in the six months ended June 30, compared with a profit of $442 million a year earlier. (Reporting by Yadarisa Shabong and Samantha Machado in Bengaluru; Editing by Aditya Soni)

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