European dip for InterContinental

The rash of hotels built for the London Olympics and the economic downturn in the eurozone caused a rare drop in revenues per room across Europe at the world's largest hotels group, InterContinental.

The owner of the Holiday Inns, Crowne Plaza and InterContinental brands saw worldwide growth of 3.1 per cent over the first three months, driven by strong demand in the Americas and Asia. But European revenues per room fell by 2.2 per cent, with the UK down even more at 2.4 per cent.