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Profits rise at hotelier IHG on strong US demand

InterContinental Hotels Group, one of the world's largest hoteliers, posted a 10 percent rise in 2014 profit, led by strong growth in its core North American market.

The group, which owns brands such as Holiday Inn, Crowne Plaza and InterContinental, said on Tuesday underlying annual operating profit rose to $648 million (£421 million) at constant rates, in line with forecasts, with revenue up 6 percent to $1.67 billion.

Global revenue per available room (RevPAR), a key industry measure, rose 6.1 percent, led by a 7.4 percent rise in its biggest market, the U.S., where an improving economy has resulted in fewer available rooms and higher occupancy rates.

IHG raised its full-year dividend 10 percent to 77.0 cents.