Intercontinental Hotels shares down after update
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The price of shares in FTSE 100 hospitality firm Intercontinental Hotels Group (LON:IHG) tumbled 2.58% to 3,552p (as of 13:35 BST) after the firm reported that comparable revenues per available for room for the first half of 2020 fell by 52%. Performance has slowly recovered during the second quarter, largely driven by the Americas franchise estate and the Greater China region.
Hotel reopenings have accelerated in recent weeks and only 10% of the global estate remains shuttered.
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