InterContinental Hotels Group - the world's biggest hotelier - has risen on the FTSE 100 as Q1 results beat forecasts.
The owner of Crowne Plaza's and Holiday Inns said that Global RevPAR (revenue per available room) had risen significantly recently.
"In the quarter Global Revenue Per Available Room (RevPAR) grew for the first time in 18 months driven by improving occupancy. Asia is leading the rebound and our dominant position in China underpinned an 80% rise in Asia Pacific profits." said Chief Executive Andrew Cosslett.
Overall RevPAR increased 0.2 pct in first three months this year followed by a substantial 5.2 pct last month in April.
Asia Pacific, was a highlight, growing 10 pct in RevPAR, to offset slight declines in Americas and weak performances in Europe, Middle East and Africa.
"Business travel is returning although at this stage mainly to the luxury end of the market which was most affected by the recession." added Andrew. "With this strengthening of our core business and the early signs of recovery in the market we are feeling confident about the outlook and our ability to grow market share."
Shares in the group rose over 5 pct though some brokers were wary:
"The outlook statement strikes a note of caution and says the occupancy has shown growth but that rates remain under pressure and visibility is limited," said Bank of America Merrill Lynch.