InterContinental Hotels Group (IHG) has predicted an uncertain 2008, despite reporting a 19 per cent rise in profit to £237m in 2007.

The group, which owns the InterContinental, Crowne Plaza and Holiday Inn brands, also added 125,533 new rooms in 2007.

Andrew Cosslett, chief executive of IHG, said: “We delivered a strong performance in 2007 reporting continuing revenue growth of 20 per cent in constant currency. The number of rooms in our system grew by a record 5 per cent and global RevPAR increased 7 per cent. We signed almost 900 hotels into our development pipeline during the year, more than three times the number signed in 2003, our first year as an independent company.

“We have the biggest development pipeline in the industry and this will deliver another high level of hotel openings in 2008. With our broadly based portfolio of brands and our resilient fee based business model we are positioned well for future growth in what is now a less predictable economic environment.”