Earnings

Holiday Inn-owner IHG takes hit from Hong Kong protests

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Trying to be part of the solution to the coronavirus outbreak, IHG CEO says

Holiday Inn-owner InterContinental Hotels Group reported a slight dip in revenue per room in 2019, hurt by a fall in bookings in Hong Kong due to last year's protests as it braces for the impact of the coronavirus outbreak.

The hotel operator, which has 443 hotels in Greater China under different brands, said comparable revenue per available room (RevPAR) fell 0.3% globally, and in Greater China by 4.5%.

The update, which included results to the end of December, gave no indication of the effect the coronovirus was having on its results since Chinese authorities took aggressive measures to halt the spread of the virus a month ago.