Holiday Inn owner suffers Middle East slowdown as Iran war hits tourismThe owner of Holiday Inn has suffered a slump in revenue at its Middle Eastern business as the Iran war knocked the region’s tourist economy. Intercontinental Hotels Group (IHG) said its revenue per available room in the Middle East slipped by 19 per cent in the three months to June. IHG, which also owns the Crowne Plaza and Vignette Collection hotel brands, told shareholders that it is facing “ongoing impacts from the Middle East conflict, including some wider disruption to international travel flows”. But it said that the Middle East region represents only five per cent of its global market. In the three months to June, the FTSE 100 firm posted 3.1 per cent revenue growth in the UK, 2.3 per cent in continental Europe and six per cent in East Asia and the Pacific.