Six Continents’ Hotel Profits Dented

LONDON— Six Continents Plc reported that falling demand for hotel rooms in the wake of Septembers attacks on the United States have cost the company approximately $25 million in potential profits. The company said the impact was felt between September 11 and September 30, and would hurt its annual results, to be announced on December 6. The major cause of the profit fall was the performance of its owned and leased hotels in the United States and Europe, with hotels in New York, Chicago, San Francisco, London, Paris and Hong Kong being the hardest hit. But in contrast, the impact on its Holiday Inn franchise business in the United States was proportionally small, the group said in a statement received by Reuters. SOURCE: Reuters