IHG sees half-year operating profit down by 84% in Greater China

InterContinental Hotels Group (IHG) said the group’s total revenue rose 52% in the first half of 2022 and operating profit were up by 162% year-on-year. The company’s CEO Keith Barr said during the conference call that Greater China had a tough start to the year as COVID restrictions were tightened. Operating profit for January-June in Greater China was USD 500 million, down by nearly 84% from last year.