InterContinental supremo Richard Solomons stepping down

One of the world’s foremost hoteliers checked out earlier — Richard Solomons, the long-standing boss of InterContinental Hotels Group, signed off with business buoyant in London.

The 55-year-old has been chief executive of the Crowne Plaza chain owner for six years and has spent 25 years at the FTSE 100, 5175-hotel chain.

Solomons told the Standard: “IHG is in good shape, and it feels like a good time for me to step down.”

He will leave his post in June and retire on August 30.

Chief commercial officer Keith Barr will succeed him.

His resignation came as InterConti reported a 2.7% increase in revenue per room in the first quarter.

Finance chief Paul Edgecliffe-Johnson flagged 12% revenue per room growth in the capital, helped by the weaker pound: “I can’t remember another quarter where we had this growth in London.”

Performance also improved in Paris, where trade had previously been hit by terror attacks.

However, IHG was hurt by low oil prices causing a slowdown in bookings in the Middle East.

The shares fell 78p to 4101p.