InterContinental Hotels CFO Sees Slow Recovery
The current slump in the global hotel sector is more than just another cyclical downturn and any recovery will be very slow, InterContinental Hotels Group PLC's (IHG) chief financial officer said Tuesday. "Fundamentally it's not very different from previous downturns but it's different in terms of scale," Richard Solomons told Dow Jones Newswires in an interview. "I would expect a very slow recovery." "I'd be disappointed if at the end of 2010, I wasn't seeing a recovery and it could happen before then," he added.