InterContinental Hotels reported full year 2009 operating profit declined 34 percent to $363 million compared with $549 million the year before

, and fourth-quarter operating profit fell to $60 million from $105 million. During the quarter, average daily rate dropped 8.4 percent to $100.60 and occupancy declined 1.6 percentage points to 57.3 percent. Full-year 2009 ADR pulled back 7.9 percent to $102.21 while occupancy lost 4.8 percentage points to 59.8 percent. "The fourth quarter did show some improvement in trends and occupancy has now stabilized. Rate however remains under pressure and we expect trading to stay tough until business travellers return in greater numbers," commented CEO Andrew Cosslett.