IHG average room revenue slides 76% in May, shows slight improvement from April
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(Reuters) - InterContinental Hotels Group Plc on Tuesday posted a 76% slump in average room revenue in May due to coronavirus lockdowns, a slight improvement from the preceding month as the Holiday Inn-owner ramps up the reopening of its properties.The company said comparable Revenue Per Available Room (RevPAR), a key gauge of performance for the hotel industry, is expected to fall 75% for the second quarter overall.