UPDATE: InterContinental Hotels Posts Rise In Q3 Net Profit
InterContinental Hotels Group PLC (NYSE: IHG) posted an increase in its third-quarter profit.
InterContinental Hotels' quarterly net profit before exceptional items rose to $118 million, from $105 million, in the year-ago period. However profit after exceptional items dropped to $174 million, from $178 million.
Its operating profit before exceptional items climbed 9% to $167 million from $153 million, while revenue rose 1% to $473 million from $467 million.
InterContinental Hotels' global revenue per available room increased 3.9%.
InterContinental Hotels shares closed at $24.50 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.