InterContinental Hotel Groups Plc has reported a pre-tax loss of $64 million for the year ended December 31, 2009 as compared to a pre-tax profit of $316 million previous year. Revenue for the year declined to $1.538 billion from $1.897 billion in the previous year.

The company recorded exceptional operating charges of $373 million in 2009. An industry measure, Revenue per available room dropped by 14.7% measured at constant currency basis.

Hit by the travel downturn across the industry, the InterContinental group has expansion plans in two large economies in the world U. S. and China. Its annual dividend of 41 cents a share was flat on the year. The hotel group witnessed sluggish traffic numbers as shown by the 19% drop in sales. The business travelers are forced to cut back on their traveling expenses amid severe economic meltdown putting pressure on margins of hoteliers.

Trends and occupancy have stabilized, but rates remain under pressure and trading will stay tough until business traveler's return in greater numbers, CEO Andrew Cosslett said in a statement.