InterContinental Hotels To Launch New Upscale Hotel Chain In China

InterContinental Hotels Group PLC

announced its plans to launch a new upscale hotel chain in China in the next six months. It also announced its plans to more than double the operations size in China, India and the Middle East in the next few years. In November last year, it reported a 19% surge in its Q3 net profit.Revenue Per Available Room gained 6.4%. IHG shares gained 2.61% to close at $18.46 yesterday.