IHG, which owns InterContinental, Crowne Plaza and Holiday Inn brands, has said that it has recorded a 10 per cent rise in pre-tax profits to the level of $US600 million.

The company said that profit after tax fell to the level of 31 per cent to $US372 million or about $A413.26 million compared to the previous year. IHG said that its revenues recorded an increase 4.0 per cent to $US1.9 billion in 2013 while revenue per available room rose to 3.8 per cent.

Company's chief executive Richard Solomons said in the statement said, "We delivered good underlying growth in revenues and profits. Looking into 2014, although economic conditions in some markets remain uncertain, forward bookings data is encouraging and we are confident that we will deliver another year of growth."

The company has announced an increase of 9 per cent to 70 US cents per share for its investors. The company also said that it sold InterContinental Mark Hopkins San Francisco hotel in a deal valued at $US120 million. The company has been selling unwanted hotels to strengthen its financial position.

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