InterContinental Hotels Reports 28% Surge In Q1 Net Profit

InterContinental Hotels Group PLC IHG reported a 28% rise in its first-quarter net profit on Tuesday. The company's net profit came in at $69 million, versus $54 million, in the year-earlier period. The company's revenue climbed to $396 million from $362 million. Its global revenue per available room rose 6.9%, including rise of 18.8% in China and 8.4% in the U.S. IHG shares fell 0.62% to close at $20.71 yesterday. Read more from Benzinga's Company news.