InterContinental records profit increase in challenging environment

InterContinental Hotels Group has seen underlying operating profit rise 2.1 per cent to $344 million in the first half of 2016. Revenue for the period, however, fell to $838 million from $915 million a year earlier. IHG chief executive Richard Solomons said: “We continue to execute our well-established strategy as we deliver consistent, high-quality growth and generate significant operating cash flows.”