IHG Operating Profit Up In Q3

　　IHG reported that its operating profit increased 9% to US$167 million in the third quarter of 2012 from US$153 million in the third quarter of 2011.

　　IHG, Denham, England, saw its margins boosted by strong cost controls, while RevPAR grew 3.9% year-on-year globally in the third quarter. RevPAR in the Americas was up 4.6%, Greater China 4%, AMEA 2.9% and Europe 2%. However, in October RevPAR growth in Greater China slowed to 0.3%, while increasing in the Americas 6.1%. ADR increased 4% year-on-year in the Americas, 2.4% in Europe, 1.1% in AMEA and 3.8% in Greater China.

　　“Our preferred brands have driven good underlying revenue growth despite a number of industrywide issues such as the timing of holidays, slowing economic growth in certain markets and the political leadership change in China,” said Richard Solomons, IHG CEO. “The global economic environment remains challenging. However, our forward bookings remain encouraging.”

　　IHG said that the 60-room InterContinental London Park Lane is the next major asset being considered for disposal.

　　IHG returned US$500 million to shareholders on October 22 via special dividend.