Skift Take
Despite strong prospects in China and other parts of Asia, the hotel giant still sees a disproportionate chunk of its profit coming out of the Americas.
InterContinental Hotels Group Plc, the world’s largest provider of hotel rooms, said third-quarter profit rose 9 percent as earnings growth in the U.S. outpaced other regions.
Operating profit excluding exceptional items climbed to $167 million from $153 million a year earlier, the Denham, England-based company said today in a statement. That beat the $164.6 million average estimate of five analysts in a Bloomberg survey.
InterContinental, owner of the Holiday Inn chain, is benefiting from increased demand in emerging markets such as the greater China region, which accounts for about 10 percent of revenue. About a third of the hotelier’s global expansion in the next five years will be in the
