Travel spending is expected to rise this year, with tourism businesses expecting to increase rates and generate greater profits, a new study from TripAdvisor has found.
According to its global TripBarometer report, conducted by research firm StrategyOne on behalf of TripAdvisor, 68% of global tourism and accommodation providers expect to be more profitable this year, with.
InterContinental Hotels Group (IHG) achieved a strong 10% rise in profits last year.
The company generated a full-year operating profit of US$614 million in 2012, up from US$559m in 2011. The company’s revenue per available room (revPAR) increased 5.2% year-on-year, driven by a 3.2% rise in average daily rates (ADR).
But perhaps surprisingly, IHG’s main growth market.