Hotels group back in the black
Intercontinental Hotels Group, which includes Holiday Inn Express, returned to pre-tax profit in 2021.
Its profit of £265.million compared to a £206.2m loss in 2020.
Group revenue rose 21.4% to £2.14 billion.
There was a significant improvement in trading during the year, with revenue per room recovering to 70% of 2019 levels.
There was a particularly strong recovery in the United States.
The group, which has hotels in the Black Country and Shropshire, opened 44,000 rooms in 291 hotels over the year with the global estate now at 5,991 hotels.
Chief executive Keith Barr said profitability and cash flow had rebounded strongly.
"Working hand in hand, our colleagues and hotel owners have once again shown incredible efforts to navigate the ebbs and flows of recovery. As vaccination rates rise and restrictions are lifted around the world, we are seeing the demand for travel increase. While there may be unexpected challenges ahead, we are confident in our ability to respond and adapt to what consumers and owners need as we position IHG for strong future growth," he added.
