InterContinental Hotels to launch $500 million buyback as profit surges
InterContinental Hotels Group PLC said Tuesday that it will launch a share-buyback program of up to $500 million as it reported a rise in net profit for the first half on increased revenue. The London-listed hotel chain IHG, +1.19% IHG, -1.38% said net profit was $216 million, compared with $48 million for the first half…