LONDON—InterContinental Hotels Group PLC said room rates, which fell during the recession, have started to rise in most markets as the return of business travelers continues to boost its revenue and profit.
The world's largest hotel operator by number of rooms said Tuesday that revenue per available room, or revpar—a key industry measure—rose 7.4% in the second quarter of the year, compared with a 0.2% rise in the first quarter. By July, revpar was up 8.1%. A 1% increase in revpar improves full-year operating profit by $13 million
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