FINANCIALS| InterContinental Hotels Posts Second-Quarter Loss

InterContinental Hotels Group Plc, the U.K.-based owner of the Holiday Inn brand, posted a loss in the second quarter following a year-earlier profit as it wrote down the value of some hotels in the recession.

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The net loss was $56 million, or 19.2 cents per share, compared with net income of $101 million, or 34.1 cents per share in the year-earlier period, the Windsor, England-based company said in a Regulatory News Service statement today. The company took a one-time charge of $162 million.

“We see some encouraging signs, but price remains under pressure,” Chief Executive Officer Andrew Cosslett said in a telephone conference call with reporters. “We see little immediate respite in our data.”



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