IHG strategy 'unchanged' despite 80 per cent drop in revenue
IHG's first quarter results have revealed "historic lows" in occupancy levels globally as the full impact of social distancing on business comes to light.
InterContinental Hotels Group has given a preview of its First Quarter 2020 trading update to be released on May 7, revealing it expects to report a 55 per cent decline in revenue per available room throughout March.
IHG announce cost cutting measures to free up $150 million
InterContinental Hotels Group has the announced there will be a "substantial" reduction in salaries for Board and Executive Committee members as part of a series of new measures designed to soften the financial blow of the coronavirus crisis.
