InterContinental vice president trousers £400,000

published 15 June 2011

Board member George Turner has pocketed more than £400,000 from the sale of shares in InterContinental Hotels Group.He offloaded 35,182 at 1,180p a time, but still has 175,637. Turner is the company's executive vice president, general counsel and company secretary.InterContinental, which is listed in London and the US, operates a number of brands including InterContinental, Holiday Inn and Crown Plaza.Last month the company said it is confident for the full year after strong growth in the US. The Americas account for more than half of Intercontinental's revenues and rooms. Pre-tax profits before exceptional items in the first quarter climbed to $96m from $68m on revenues that were up to $396m from $362m. RevPAR (revenue per available room, a key metric for the hotel sector) was up by 6.9%, helped by an 18.8% increase in the greater China area and an 8.4% rise in the US, the highest growth for the country since the second quarter of 2006. Growth was more subdued in the Europe, Middle East and Africa region at 3%, with tensions in Egypt and Bahrain hitting profits. "We remain confident about the outlook for the rest of the year," said chief executive Andrew Coslett. "Demand for our brands continues to strengthen with both guests and hotel owners." Top Director BuysPromethean World (PRW) Director name: Mr Neil JohnsonAmount purchased: 26,270 @ 58.50p Value: £15,368Optare (OPE) Director name: Mr Peter PhillipsAmount purchased: 500,000 @ 2.95p Value: £14,750Fortune Oil (FTO) Director name: Mr Frank AttwoodAmount purchased: 93,869 @ 13.25p Value: £12,438Top Director SellsInterContinental Hotels Group (IHG) Director name: Mr George TurnerAmount sold: 35,182 @ 1,180.00p Value: £415,148F&C Asset Management (FCAM) Director name: Mr Alain GrisayAmount sold: 500,000 @ 76.35p Value: £381,750