InterContinental Hotels Group reported a 2008 net profit of $262 million

, down from $463 million in 2007. Excluding of one-time items, the company's adjusted net profit was $347 million--a 12 percent year-over-year increase. Average daily rate increased 0.8 percent in the Americas, to $102.10; 1.3 percent in Europe, the Middle East and Africa, to $145.77; and 2.6 percent in Asia-Pacific to $119.44.