IHG beats revenue views as US and China growth leads
IHG reported a 4.4% rise in room revenue, beating estimates as U.S. and China growth offset Middle East declines. Shares hit a record high despite conflict.
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InterContinental Hotels Group reported a 4.4% increase in global room revenue on Thursday, beating analyst estimates of 3.3%. Growth in the United States and China offset declines in the Middle East as the conflict between Israel and Iran weighed on regional demand. The company warned that Middle East performance has deteriorated sharply in the current quarter, with RevPAR falling approximately 50% in April.
