Summary
Weaker demand for accommodation in a number of major European cities has left its mark on third quarter results from hotels group InterContinental.
Poorer performances by the company's hotels in locations such as Cannes, Frankfurt and Paris, as well as the effect of the weaker US dollar, contributed to a 2.6% fall in turnover at the hotels division. However, group pre-tax profits before exceptional items were still 4.3% higher at pounds 97m in the three months to September 30, after continued strong growth at its sites in America and Asia.See the full content of this document
Extract
Hotels Hit in Europe
The UK also managed to buck the European trend, recording g...
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