InterContinental Hotels Group (IHG), the world’s biggest hotel company, is expected to announce a 40 per cent fall in first-half profits tomorrow. However, it is also expected to increase its estimate of cost savings and to maintain the dividend.
The group, which owns such brands as Crowne Plaza and Indigo, is also expected to confirm that it remains on track with a $1 billion (£600 million) relaunch of its core Holiday Inn brand and has no plans to extend the deadline for franchisees to upgrade their hotels, despite the credit crunch.
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http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6789272.ece
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