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Special dividend from InterContinental Hotels

InterContinental Hotels said it would hand investors £444 million in a special dividend and look at selling more hotels.

The business, which also runs the Holiday Inn and Crowne Plaza, said first-quarter global revenue per available room - a key industry measure - grew 6%, helped by higher occupancy and room charges as well as growth in the UK and US. It added its revenue per available room growth was the highest in almost two years.

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