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InterContinental CEO sees recovery in 2010

InterContinental Hotels does not expect a healthy business travel market before 2010, although there are signs of recovery, its chief executive told the Wall Street Journal in an interview.  

Andrew Cosslett, CEO of the world's biggest hotelier, was confident in the company's short-term prospects, in spite of an economic downturn, the paper said.

“It's still tough but I'm confident we can see the end, whereas six to eight months ago it was so tough, there was no end,” the paper quoted him as saying.

Cosslett acknowledged that financing for new projects remained a concern, but was hopeful signings would accelerate, once additional liquidity was injected in the markets, the Journal said.

InterContinental said last month a recovery for the industry might be two years away. (Reuters)