InterContinental Hotels Group (IHG) has warned that trading "remains challenging" after posting a 19 per cent fall in adjusted operating profit for the third quarter.

Compared with the same period in 2008, the hotel operator saw a 19 per cent decline in revenue during the three months to 30 September 2009, which has been affected by a 15.2 per cent decrease in global RevPAR. IHG, which operates nearly 4,400 hotels in 100 countries, said that it aims to continue its plans to reduce costs through improved efficiency in a bid to save US$80m (£48m, €53m) by the end of the year.

Andrew Cosslett, IHG chief executive, said: "The trading environment remains challenging. We see signs of occupancy stabilising, but rate is still under considerable pressure across the board. "We are taking action to improve our operating efficiency and support the performance of our hotels; the relaunch of Holiday Inn is gaining pace and continues to make a significant difference to the prospects of our biggest brand."