IHG First Quarter Room Revenue Beats Market Estimates
InterContinental Hotels Group reported first-quarter room revenue growth of 4.4 percent, beating estimates. Results were supported by a U.S. market recovery.
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INTERCONTINENTAL HOTELS-ADR reported global revenue per available room grew 4.4% in the first quarter, exceeding market expectations of 3.3% growth. The performance follows a return to growth in the United States market during the three months ended March. Resilient demand from affluent travelers offset a broader slowdown in budget-conscious consumer spending.
