InterContinental Hotels' Net Profit Doubles | wsj.com

InterContinental Hotels Group PLC Tuesday said first-quarter profit doubled as the return of business travelers to high-end hotels drove its first positive revenue performance in 18 months. Intercontinental, which counts Holiday Inn, Intercontinental and Crowne Plaza among its brands, said that revenue per available room, or RevPAR—a key industry measure—grew 0.2% in the quarter, accelerating to 4.1% in the month of March and 5.2% in April.