InterContinental Hotels Group thriving as tourists shrug off terror

Tourists are shrugging off terror concerns to check-in at InterContinental Hotels Group’s London and European sites, the owner of the Holiday Inn and Crowne Plaza brands said on Friday as it posted a sales rise.

The FTSE 100 firm said “markets previously impacted by terrorist attacks grew strongly” in the third quarter.

Finance boss Paul Edgecliffe-Johnson said: “Threats are a way of life unfortunately. But, people want to continue to enjoy travel.”

The firm flagged growth in France, Belgium and Turkey. In London, revenue per room jumped 3%, and global revenue per room jumped 2.3%.

The company had a weaker performance in the US where it was grappling with Hurricanes Harvey and Irma. It had a number of cancellations.

The shares were down 16p to 4083p.

Elsewhere in the sector, shares in Millennium & Copthorne Hotels were down 2.5p to 567.5p.

Tthe firm’s board directors yesterday defended their decision to back a potential 552.5p a share takeover offer from majority shareholder City Developments.

Minority shareholders have criticised the bid for being too low.