DENHAM, England — InterContinental Hotels Group PLC shareholders are beginning the day with news that the international England-based hotel company has announced plans to return $1 billion to its shareholders through a dividend and share buyback.
“We have delivered good results in the first half with RevPAR growth from all regions through gains in both occupancy and rate,” said Richard Solomons, CEO of InterContinental Hotels Group PLC. “Our brands continue to perform well, and we have achieved solid underlying margin growth, resulting in increased profits and strong cash flows.”
The company recorded revenue of $878 million in the six months ended June 30, compared to $850 million in 2011.
For the complete financial report from InterContinental Hotels, visit ihgplc.com.