InterContinental Hotels suffers as business clients don't check in | guardian.co.uk
High spending business clients have yet to return to InterContinental Hotels in any great numbers, and the shortfall is not being made up by leisure customers, judging by its latest update. The group, the world's biggest hotelier whose brands include Crowne Plaza and Holiday Inn, said third quarter revenues and operating profits had both fallen by 19%. Revenues per available room (RevPar) - a key industry measure - dropped by 15.2% in the third quarter although the decline narrowed to 13.5% in October.
