Intercontinental Hotel Group News
IHG warns of tough outlooks as profits slide
InterContinental Hotels has reported a 19% slump in full-year net profit and said trading would “stay tough” until business travel picked up. But the world’s largest hotel operator also added that bookings over the past quarter had showed signs of recovery.
InterContinental Alpensia Pyeongchang Resort Opens
InterContinental Alpensia Pyeongchang Resort offers instant proximity to a wealth of world-class leisure facilities, including an Olympic-class ski park, a 27-hole golf course designed by Robert Trent Jones Jr. and the Ocean 700 water-park.
IHG profits fall in ‘challenging’ climate
InterContinental Hotels Group has unveiled disappointing third- quarter results as profit dropped 25 percent following a decline in demand due to the recession.
IHG expansion eyes Olympic business
InterContinental Hotels Group has signed a 20 year deal for a new 254-room six storey property in the centre of London, hoping to exploit the surge in visitor numbers for the 2012 Olympic Games.
Luxury hotels to relinquish stars to win business
A number of luxury hotel groups could relinquish some of their stars in a bid to save money during challenging economic times.
IHG makes $40m in “green savings”
Green savings by the InterContinental Hotels Group are starting to reap rewards. Whilst posting a 38% dive in profits yesterday, the hotel giant offset some of the investor disappointment by forecasting a $10 million improvement in cost savings to $80 million, having already raised the figure from $30 million to $70 million in May.
InterContinental slides into red
InterContinental Hotels, the world’s largest hotel group, has fallen sharply into the red as hotels globally are hit by fewer people travelling in the downturn and fears over swine flu.
IHG to report 40% profit slump
InterContinental Hotels Group is expected to announce a 40 percent fall in first-half profits tomorrow. Despite the fall, the world’s largest hotel group is also expected to maintain its dividend, announce an increase in cost savings, as well as confirm that it remains on track with the $1 billion relaunch of Holiday Inn.
Late Lounge At Intercontinental London Park Lane
InterContinental London Park Lane, situated in the heart of Mayfair, is delighted to announce the opening of its exclusive Late Lounge located in the hotel’s lobby. Featuring London’s DJ TK, the Late Lounge provides what no other five star London hotel can—a private area in which to socialise seven nights a week from 10.30pm - 3.00am.
InterConti rolls out Indigo brand across Canada
InterContinental is continuing the roll-out of its boutique Hotel Indigo brand with the launch of a new Canadian property, the Hotel Indigo Toronto Airport, as well as unveiling plans for its third Canadian property in Vancouver, British Columbia, which will open in time for the 2010 Winter Olympics.The Hotel Indigo Toronto is located minutes from the Toronto Pearson International Airport. Business travellers are only 15 minutes from the heart of downtown Toronto, home to an array of entertainment from restaurants and concert venues to art galleries and museums.
World Hotel Group Ranking 2009
UK-based InterContinental Hotel Group (IHG) retains its number one position in the world, surpassing the 600,000 room mark.Meanwhile, Hilton Hotels recorded the largest growth among the top 10 at 9.3%, bringing their global room count to over half-a-million.Projects already launched prior to the financial downturn transpired in 2008, hence why there are still such positive increases. Although some growth is still expected, the rest of 2009 and the beginning of 2010 will prove to be much slower, with companies acting a lot more cautious in order ride-out the current economic uncertainty. According to Director of Development, MKG Hospitality, Vanguélis Panayotis, franchise contracts will now be the major battle ground for these leading hotel groups.
World Hotel Group Ranking 2009
UK-based InterContinental Hotel Group (IHG) retains its number one position in the world, surpassing the 600,000 room mark.Meanwhile, Hilton Hotels recorded the largest growth among the top 10 at 9.3%, bringing their global room count to over half-a-million.
Projects already launched prior to the financial downturn transpired in 2008, hence why there are still such positive increases. Although some growth is still expected, the rest of 2009 and the beginning of 2010 will prove to be much slower, with companies acting a lot more cautious in order ride-out the current economic uncertainty. According to Director of Development, MKG Hospitality, Vanguélis Panayotis, franchise contracts will now be the major battle ground for these leading hotel groups.
IHG plans Crowne Plaza debut in Taiwan
InterContinental Hotels Group has signed a management contract with Taiwan-based E United Group to manage a 650-room Crowne Plaza Kaohsiung E-Da World.
InterContinental Fiji resort ready for opening
The InterContinental Fiji Golf Resort & Spa on Natadola Beach, one of the world’s best beaches, is now scheduled to open on 1 June 2009.
IHG calls on staff to sell rooms
InterContinental Hotels Group has launched a “Friends and Family” programme that harnesses its over 330,000 staff strength to promote hotel bookings to their social networks.
IHG and Tiger developments sign deal to open IHG in Edinburgh
IHG (InterContinental Hotels Group) today announced it has signed a deal with Tiger Developments to build a 17-storey 192-room InterContinental Hotel in Edinburgh, due to open in 2013.
IHG teams up with Crocus Group for new Holiday Inn, Moscow
IHG (InterContinental Hotels Group) and Crocus Group have signed a deal to build the world’s biggest Holiday Inn hotel in Moscow, with an investment of more that $100m from Crocus Group.Under the historic 20 year management contract, construction is scheduled to start on the 1,000 bedroom hotel in 2011 with the hotel set to open in 2014. It will be located in Crocus City in the rapidly developing Krasnogorsk area of Moscow.
InterConti on target but warns of tough year ahead
Intercontinental Hotels Group has met market expectations with its full-year results, but warned of a sharp deterioration in final quarter trading with no improvement in the foreseeable future.The group, which operates Holiday Inn and Crown Plaza, said the “very tough” market pushed profits down by 32 per cent last year and gave warning that demand was unlikely to pick up in 2009.
Bearish outlook expected from IHG
Intercontinental Hotels Group is expected to warn of a bearish trading outlook for the rest of the year ahead of its annual results tomorrow.The company is also expected to insist that its controversial US$1bn programme to modernise and relaunch its Holiday Inn chain is progressing to plan and will be completed by the end of 2010.
IHG announces plans for new Holiday Inn Express in Kentucky
InterContinental Hotels Group, multi World Travel Award winner including “Central America’s Leading Conference Hotel”, announced today plans for new 75-room Holiday Inn Express in Somerset, Kentucky.
