According to CNBC, InterContinental Hotels Group reported a 10% rise in operating profit from reportable segments in the first half of the year to $665 million, while revenue from reportable segments increased 7% to $1.3 billion and global RevPAR rose 4.1%. The U.K. hotel group, which owns Holiday Inn, Holiday Inn Express, Crowne Plaza and Six Senses, said accelerated growth in the U.S., Asia Pacific and Europe helped offset disruption from the Middle East conflict. RevPAR increased 4.4% in the first quarter before slowing to 3.5% in the second quarter as the impact of the U.S.-Iran war and a travel slump in the Middle East were felt, and shares were last down nearly 1.9%.

CEO Elie Maalouf said on Squawk Box Europe that the results reflected rising demand for experiences, with the U.S. a standout due to strong employment, wage growth and consumer spending. He also said the company’s new hotels are seeing strong demand, especially from wealthier consumers, and said sports, concerts and theater performances should continue to support the business. Maalouf said the Middle East made up about 5% of IHG’s business and that the company’s diversified strategy helped offset disruptions in the first half.