InterContinental Hotels Group reported net income of $101 million for the three months ended June 30

, down from $128 million a year earlier. Systemwide average daily rates rose across all brands and all regions, ranging from 4.4 percent growth year-over-year in the Americas to 8 percent growth in Europe, the Middle East and Africa. According to CEO Andrew Cosslett, "Market conditions have become more challenging, particularly in the U.S. However, the long-term trends for the travel industry remain positive."