InterContinental Hotels Short-Term Outlook Looks Cloudy
Dow Jones
Aug 11
0935 GMT - While InterContinental Hotels' hike in dividend and large share buyback program indicate confidence in the long term, the short-term outlook remains cloudy on geopolitical worries, AJ Bell's Dan Coatsworth says in a comment. The Holiday Inn owner has managed to stand tall on a combination of enthusiasm for the FIFA World Cup and resilient demand from affluent customers during a challenging period for the hospitality sector, Coatsworth says. However, second-quarter revenue fell short of expectations and the group warned of continuing impact from the Middle East conflict, he says. "Some investors checked out of the shares in the wake of its results," he adds. Shares trade 1.7% lower at $152.85.
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