By Sabela Ojea
InterContinental Hotels Group PLC on Tuesday reported a rise in pretax profit for 2019, which the company said reflects the continued "successful execution of its strategy" while it invests in its brands.
The owner of the Crowne Plaza and Holiday Inn hotel brands made a pretax profit of $542 million for the year ended Dec. 31 compared with $482 million for the same period a year earlier. Total net profit rose to $385 million from $349 million in 2018, it said.
The FTSE-100 company also said that revenue increased to $4.63 billion from $4.34 billion a year before. Revenue per available room--a closely watched metric used in the hotel industry--was down 1.8% in the fourth quarter, and fell 0.3% as a whole.
Operating profit rose to $630 million from $582 million.
The final dividend rose to 125.8 cents.
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