(China Plus) InterContinental Hotels, the British group which owns Holiday Inn, Crowne Plaza and Staybridge Suites, has credited strong demand in China with boosting its latest results.
The Chinese results showed a revenue growth rise of 7.8% in the quarter and a growth of 9% in mainland China as a whole.
This acted to partially offset sluggish demand in North America, which was partially dented by a series of recent storms.
Keith Barr, Chief Executive of InterContinental Hotels Group PLC, said "We have delivered a good third quarter performance...the international expansion of our newest brands is gathering pace. This week we continued the global roll out of Kimpton Hotels & Restaurants, with a landmark signing in Bali and two signings in key Chinese urban and resort locations, Shanghai and Sanya Bay.
He added "Franchise Plus, our franchising solution for Holiday Inn Express in China, is gaining momentum with 6 hotels now open and a further 58 in the pipeline, including 19 signings in the quarter. We expect a further ramp up in activity over the next 12 months. Looking ahead, despite macro-economic and geopolitical uncertainties around the world, we remain confident in the outlook for the remainder of the year."
Source: China Plus
from China Travel & Tourism News http://ift.tt/1iB6EFm |  | |  |  |
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