LONDON (MarketWatch) -- InterContinental Hotels said Tuesday that its first-quarter net profit rose to $54 million, from $27 million last year. Revenue rose to $362 million, from $351 million. "In the quarter global revenue per available room grew for the first time in 18 months driven by improving occupancy. Asia is leading the rebound," said CEO Andrew Cosslett. "With this strengthening of our core business and the early signs of recovery in the market we are feeling confident about the outlook and our ability to grow market share," he added.