InterContinental Hotels to cut corporate staff by 10%
The Holiday Inn, Crowne Plaza, Regent and Hualuxe owner’s revenue more than halved and profit slumped 82% in the first half of 2020
11 August 2020 - 19:18
Bengaluru — InterContinental Hotels (IHG) will reduce staff by 10% at the corporate level, its CEO said on Tuesday, after the Holiday Inn-owner’s revenue more than halved and profit slumped 82% in the first half of 2020.
IHG, whose other brands include the Crowne Plaza, Regent and Hualuxe hotel chains, also underlined that it has limited visibility on when the travel market would recover after six months that have seen billions in business travel and holidays cancelled due to the pandemic...
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