6-Continents posts strong growth
Global hotel group, Six Continents Hotels, has announced strong financial results and a "resilient position for the future, despite difficult market conditions".The group owns, manages, leases or franchises leading hotel brands including Inter-Continental, Crowne Plaza, Holiday Inn, Express by Holiday Inn and Staybridge Suites in six continents around the world. In the financial year to the end of September 2001, Six Continents' global portfolio grew by 24,000 rooms to 515,000 rooms, the group said. The company was particularly strengthened by the acquisitions of the former Regent in Hong Kong and the Posthouse chain in the UK, according to chairman Sir Ian Prosser. Hotel profit rose by 13.6 per cent in the year, including the acquisition of Posthouse; excluding that acquisition, profits were up by 3.7 per cent, the group said. Europe, Middle East and African region had a strong year, with profits up by 22.4 per cent.