InterContinental Hotels Report 23% Rise In First-Half Operating Profit

InterContinental Hotels Group PLC IHG reported a rise in its first-half profit. InterContinental Hotels' operating profit surged 23% y/y to $269 million, versus analysts' estimates of $254 million. Its revenue rose 10% to $850 million. Its revenue per available room climbed 6.7% in the half and 6.5% in the second quarter. IHG shares dipped 6.03% to close at $16.04 yesterday.