Chief Executive Andrew Cosslett

The world’s biggest hotelier, InterContinental Hotels is set to miss its target to have 125 hotels in China by the end of this year.

The British group, which operates InterContinental, Crowne Plaza and Holiday Inn hotels, said it is likely to miss its China target due to the Sichuan earthquake in May and the Chinese government’s move to cool the domestic economy.

The hotelier, which is the biggest international player in China, already has 95 hotels open in the country.

Chief Executive Andrew Cosslett said at first-half results briefing, ‘We are likely to fall short, but reach 125 very soon in 2009 reflecting the constraints of the government cooling the economy and the Sichuan earthquake.’
Source: Reuters