InterContinental raises dividend
Wednesday 16 February 2011
Intercontinental hotels raised its dividend for the first time in three years as it cheered the market with a 22 per cent rise in profits for 2010 last night.
The world's biggest hotelier posted $444m (£275m) in operating profits for last year, slightly ahead of market hopes of $442m. Revenue per available room (Revpar), a key measure of performance in the hotel industry, was also higher, up 8.4 per cent in January. Revpar rose by 8 per cent in the fourth quarter, and by 6.2 per cent over 2010.
The company said it planned to make a full-year payout to shareholders of 48 cents, up 16 per cent on 2009.
Its finance director, Richard Solomons, said the group was seeing "some solid growth" across the world, with the recovery that had started in Asia now looking "very broad-based".
- 1 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
- 5 One Direction: Louis Tomlinson launching his own record label, has already 'signed two acts'
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Driving while dehydrated can be just as dangerous as drink driving, study suggests
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...