(Business) – Holiday Inn-owner InterContinental Hotels agreed on changes to the terms of borrowing with creditors. InterContinental Hotels made use of UK government-supported loans with a prediction of a 25% plunge in global revenue per available room in the first quarter.
InterContinental Hotels also said it had issued 600 million pounds in commercial paper under the Covid Corporate Financing Facility scheme put forth by the UK Government and now had total available liquidity of around $2 billion.
(Photos syndicated via Reuters)
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