Hotels Group Sees Signs of Stability Begin to Emerge ; Analysts Praise Figures Ahead of Consensus

Summary

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THIRD-QUARTER figures from InterContinental Hotels Group have been well received by analysts, despite falling revenues and profits.

The hotels giant - whose local interests include two Crowne Plazas in Liverpool and Speke, a Holiday Inn, Holiday Inn Express, business-oriented Staybridge Suites and plans for a new "cool" pounds 14m 151-room Indigo hotel in Chapel Street for 2011 - revealed that turnover dropped 19% to pounds 240m and pre-tax profits after exceptional charges fell 33% to pounds 80m in the three months to September 30.

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Hotels Group Sees Signs of Stability Begin to Emerge ; Analysts Praise Figures Ahead of Consensus

Chief executive Andrew Cosslett said: "The trading environment remains challe...

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