May 7, 2020 / 6:20 AM / 23 days ago

Holiday Inn-owner sees 80% plunge in April room revenue

May 7 (Reuters) - Holiday Inn-owner InterContinental Hotels said on Thursday it expects revenue per available room to plunge 80% in April compared with last year and that the coronavirus crisis was the biggest challenge the hotel industry ever faced.

The Denham, UK-based company said occupancy levels dropped to historic lows in March and April, with first-quarter global RevPAR falling 25%. (Reporting by Tanishaa Nadkar in Bengaluru, Editing by Sherry Jacob-Phillips)

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