On Tuesday, the world’s largest hotel group by rooms, InterContinental Hotels Group PLC (IHG) revealed that its first-quarter profit has increased by 28%. The hotel has almost 650,000 rooms in the Americas. InterContinental also owns hotel brands such as Crowne Plaza, Holiday Inn, Hotel Indigo and Centra.

Chief Executive, Andrew Coslett said that the group has always remained confident and had a positive outlook related to the market.

The England-based company, the Denham said that its net income rose from $54 million to $69 million this year. The sharp rise was due to the recovery in the business and travel industry after the global recession in 2009.

Hyatt Hotels Corp. said that its revpar for hotels owned or leased for at least a year increased in this year. Revpar is a measure of room rates and occupancy. A recent survey carried out by the researcher STR Global found that the revpar for InterContinental group rose 6.9% in the first quarter.

The operating profits of the group increased by 35% to $112 million for the first quarter of this year. The rise was a result of higher room rates and strong growth in China.

The shares of InterContinental Hotels surged 0.5% in London trading whereas declined in Paris.