Hotel operator InterContinental Hotels Group (IHG) has reported a 15 per cent increase in operating profit during the first quarter to 31 March 2010.

A strong performance in the Asia Pacific region has helped boost overall performance during the three-month period, compared with first quarter results for the previous financial year. Revenue also increased by 3 per cent during the first quarter, while IHG has successfully reduced net debt by US$200m (£134m) through sustainable savings.

IHG chief executive Andrew Cosslett said: "Asia is leading the rebound and our dominant position in China underpinned an 80 per cent rise in Asia Pacific profits. "With the 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."