IHG Beats Profit Estimates
From Bloomberg:
Americas RevPAR Climbs 7.6%
InterContinental Hotels Group Plc (IHG), the owner of the Holiday Inn brand, reported a 23 percent gain in first-half earnings that beat analysts’ estimates and said it’s well placed to cope with any slowdown in the U.S. economy. Earnings before interest and taxes in the six months ended June 30 advanced to $269 million from $219 million a year earlier, the Denham, England-based company said in a statement today. That compared with the $254 million average estimate of six analysts in a Bloomberg survey. Click here for the full story.
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