InterContinental Hotels Group (IHG) has announced plans to create more than 160,000 new employment opportunities over the coming years.

The chain's chief executive revealed that the company has over 1,200 new premises in its development pipeline, which are anticipated to substantially increase its workforce.

Andrew Cosslett stated: "Our balance sheet is in excellent shape and we continue to generate significant cash flow."

He was commenting on IHG's figures for the third quarter of 2010, which showed the firm "return to rate growth for the first time since early 2010".

Mr Cosslett cited this as evidence that "the recovery is gathering pace", with revenues rising across the Europe, Middle East and Africa region by 24.4 per cent.

Particular improvements were seen in the Holiday Inn brand family following a relaunch over the period to September 30th 2010, while the pipeline increased to 198,141 rooms at 1,293 hotels.

Operating more than 4,500 premises in 100 nations and territories around the world, IHG owns seven brands, including the Candlewood Suites, Crown Plaza and Holiday Inn names.

Posted by Kate Griffin