intercontinental hotels group reported earnings for the first half on tuesday here is what we watched net profit the londonlisted hotel chainwhich owns the crowne plaza and holiday inn brandsposted net profit of 459 million compared with 216 million for the first half of 2022 revenue revenue rose to 223 billion from 179 billion compared to consensus of 22 billion according to ubs analyst jarrod castle underlying earnings underlying earnings before interest and taxeswhich strips out exceptional and other oneoff itemswas 566 million compared with 380 million and consensus of 470 million net unit growth nug for the period was 48 beating nug consensus of 43 revpar revenue per available rooma key metric for the industryrose 24 yearonyear with revpar in the americas up 11 42 in the europe middle east africa and asia region and 94 in greater china the company said this reflected the different levels of travel restrictions still in place during the period the company said that since july 2022 group revpar has exceeded the levels seen in 2019 each month strategy the company said it was launching a new brand targeting midscale conversion as they represented a major growth opportunity generating around 40 of openings and signings globally in the first half ihg said that more than 100 hotels had already expressed a definitive interest in the new brand