Source Pravda.Ru

Owner of Holiday Inn Brand Posts Loss in Second Quarter

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.

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. , Bloomberg reports.

"Trading was very challenging throughout the first half of the year and we expect the remainder of 2009 to be tough," Chief Executive Andrew Cosslett said in a results statement.

The hotelier, which typically manages or franchises hotels instead of owning them, and earns 70 percent of its profits in the United States, has been hit by the fall in global travel from leisure and business guests, especially since September , Reuters reports.

World's most powerful nuclear submarines, Arkhangelsk and Severstal, are to be dismantled after 2020 - their further exploitation is unprofitable

Russia gets rid of world’s most powerful nuclear submarines

The United States' Head of Diplomacy, or Secretary of State, is an anachronistic, incompetent, meddling, intrusive, insolent and arrogant, rude individual, a brash, foul-mouthed upstart, a conceited, self-important guttersnipe and an insult to the international community, as fit for the job as a pedophile janitor in a grade school.

Tillerson must go!
Comments
Turkey distances itself from Russia to plunge Syria into greater chaos
Tillerson must go!
Torturing Jerusalem with USA's help: No peace, but eternal war for Jews and Arabs
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
Turkey distances itself from Russia to plunge Syria into greater chaos
Turkey distances itself from Russia to plunge Syria into greater chaos
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
Ukraine's Western allies point their guns at President Poroshenko
Ukraine's Western allies point their guns at President Poroshenko
Why did the USSR lose the Moon race?
Honor me: The hell with you
Is the Syrian War Really Over?
Tillerson must go!
Honor me: The hell with you
Honor me: The hell with you
USA to crush Russia's space industry in 2019
NATO embraces Russia with wings of love
Russia officially accuses USA of plotting major riots during 2018 elections
Can Russia perform under Soviet flag during 2018 Winter Olympics?