InterContinental shareholders to get further £500m from Britvic sale

03 March 2006
InterContinental shareholders to get further £500m from Britvic sale

InterContinental Hotels Group has announced a further return to shareholders of £500m from the sale of its soft drinks brand Britvic and Felcor shares last December.

The British hotel group announced its operating profit was up by 42% from £134m to £190m in its full year results to 31 December 2005.

The group has seen room count rise by 3,300 up to 537,000 rooms and has signed 70,000 rooms up, a rise of 57% from 2004 taking the total of rooms in its pipeline to 108,500.

Revenue per available room grew across the 3,600-strong group by 9%, mainly driven by rate increases.

IHG's European portfolio is currently on the market for £600m. The company has already signed 11,000 rooms this year, including the two deals in China which will add 6,000 rooms.

By Emily Manson

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