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 (US$746.76 mil) in commercial paper under the UK government’s Covid Corporate Financing Facility scheme and now had total available liquidity of around US$2 bil. — April 27, 2020, Reuters
