InterContinental Hotels Plc, the world's largest hotelier, reported a 13 percent rise in third-quarter profits on Tuesday and said after strong trading in the quarter the group's outlook "remains positive".
The British-based group, which operates InterContinental, Crowne Plaza and Holiday Inn hotels, painted an upbeat picture of strong global hotel growth with no sign of any slowdown while the group was on track to meet its room growth targets.
"This has been a very strong quarter, we are performing well, our hotel pipeline is growing and the outlook is positive," said Chief Executive Andrew Cosslett in a conference call after third-quarter results.
The hotelier, which earns over 70 percent of its profits in the US, made an operating profit from continuing operations of 53 million pounds ($101 million) in the quarter, which was in line with analyst's forecasts of 50-54 million pounds.
The company, which operates more than 3,600 hotels and 540,000 rooms globally, has just completed a three-year hotel sell-off programme to become largely a manager of hotel assets and has promised a further return of funds to shareholders.
InterContinental has sold 175 hotels for 3 billion pounds since its creation in 2003, and has almost completed the return of 2.75 billion pounds promised to shareholders.
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