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IHG reports higher first-half profit as US demand offsets Middle East strain
The hotel company’s first-half results rose even as disruption in the Middle East weighed on travel demand, according to CNBC World.
IHG said its first-half profit increased, citing stronger travel demand in the United States despite strains elsewhere.
According to CNBC World, the company pointed to a “growing middle class” as a driver behind improving demand levels.
CNBC World also reported that disruptions in the Middle East weighed on travel, but the impact was partially offset by the acceleration in U.S. demand.
The news comes as investors look at how travel demand is holding up across regions, with IHG balancing strength in the US against weaker conditions tied to the Middle East.