Dunwoody, Georgia--Six Continents Plc, a London conglomerate that split its 2,000 pubs and 3,325 hotels into separate companies April 15, is going through a corporate shakeup. Newly formed hotel franchisor, InterContinental Group Inc., now owns or franchises more than 515,000 hotel rooms in 100 countries under the Holiday Inn, Holiday Inn Express, Crowne Plaza, Staybridge Suites and InterContinental brands. As a result of the shakeup, InterContinental is eliminating 200 positions, and has had conversations with 150 more employees who may leave.
To succeed, InterContinental must make improvements to its product line and overcome revenue declines due to decreased business and leisure travel, according to a former executive. -Atlanta Business Chronicle