April 27, 2020 / 6:31 AM / a month ago

Holiday Inn-owner reorders debt as Q1 revenue per room sinks 25%

April 27 (Reuters) - Holiday Inn-owner InterContinental Hotels said on Monday it had agreed changes to the terms of its borrowing with creditors and made use of UK government supported loans as it predicted a 25% plunge in global revenue per available room in the first quarter.

The company also said it had issued 600 million pounds ($746.76 million) in commercial paper under the UK government’s Covid Corporate Financing Facility scheme and now had total available liquidity of around $2 billion. ($1 = 0.8035 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; editing by Patrick Graham)

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