Holiday Inn owner points to recovery after first half slump

LONDON: InterContinental Hotels is seeing some “very early” signs of improvement in demand after the Holiday Inn-owner’s revenue more than halved and profit slumped 82% in the first half of 2020.

IHG, whose other brands include the Crowne Plaza, Regent and Hualuxe hotel chains, also underlined that it had limited visibility on when the travel market would recover after six months that have seen billions in business travel and holidays cancelled due to the pandemic.