Intercontinental increases annual profit significantly

(Photo: Crowne Plaza)

Net profit of British hotel group, InterContinental Hotels Group (IHG) increased last year after the sale of hotel in Paris and Hong Kong. Profit before taxation increase to USD 1,22 billion (EUR 1,11 billion) in 2015, compared to USD 391 m later, IHG announced and Frans pres reports.

Owner of hotel brands, Crowne Plaza and Holiday Inn last year sold two big hotels - InterContinental Grand and InterContinental Hong Kong.

Global profit per available accommodation unit increased by 4,4%, supported with business growth in Europe.

IHG also proposed special dividend of USD 1, 5 billion, thanks to successful business last year.

After announcing these news, company shares increased by 4% at the London Stock Market to 2,553 pennies.