InterContinental Hotels Group Plc, the world’s largest provider of hotel accommodation, plans to open “at least the same” number of hotels in China next year as 2013, even as growth in room revenue slows.
Extended Stay America Inc., the largest owner of mid-price long-stay hotels in the U.S., raised $565 million in an initial public offering, almost tripling the return on paper for its private-equity and hedge fund owners.
U.K. stocks were little changed at a five-month high as investors weighed worse-than-estimated data on U.S. housing and factory output to gauge when the Federal Reserve will slow the pace of its stimulus.
Extended Stay America Inc., the mid- price lodging chain owned by Blackstone Group LP, Centerbridge Partners LP and Paulson & Co., plans to raise as much as $593 million in its U.S. initial public offering.
InterContinental Hotels Group Plc, the world’s largest provider of hotel rooms, reported profit that beat estimates and declared a bigger-than-expected dividend as business travel recovered, led by the U.S. and greater China.