International hotel group IHG, owner of the Holiday Inn and Intercontinental brands, has seen operating profit rise by a third in the third quarter of 2011.
Operating profit was up to $153m (£95m), compared with $115m (£71.5m) in the same period the year before. Meanwhile revenue climbed 11% to $467m (£290m).
Global revenue per available room (revpar) was up 6.4%, driven by 10.8% revpar growth in China and 8% in the USA.
Revpar growth in Europe, the Middle East and Asia increased 3.6%. That climbed to 4.5% if the effects of the political unrest in Egypt and Bahrain were discounted.
IHG also gained an exceptional operating credit of $28m (£17.4m) relating to the closure of its defined benefit pension scheme in the UK, with effect from 1 July 2013.
By Neil Gerrard
E-mail your comments to Neil Gerrard here.
If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.catererandhotelkeeper.com/tabletalk
Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs