InterContinental Hotels hopes that its Chinese sales growth will soon rebound after being constrained by the change in the country’s political leadership and diplomatic tension with Japan.
The owner of the Holiday Inn and Crowne Plaza hotel brands, which reported a 5 per cent increase in annual pre-tax profit yesterday, said it had fallen victim to industry-wide trends in China towards the end of 2012.
The company said revenue per available room – a measure known as “revpar” – fell 0.3 per cent year on year in Greater China in the fourth quarter, a region where it posted 5.4 per cent revpar growth for the year.
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