The hotelier, which also owns the InterContinental and Crowne Plaza brands, registered operating profit of $219m (£138m) in the six months to 30 June, up from $179m (£113m) in the same period last year.
Revenue rose to $772m (£488m), up 6% on last year’s $726m (£459m).
The company plans to refresh 3,300 Holiday Inn hotels worldwide. It says work remains “on-track” with 2,585 hotels now operating under new standards.
IHG aims to give the brand a more contemporary image.
The hotel group, which makes the bulk of its revenue from the mid-market brand, launched a £65m global campaign to support the reluanch in April.
The campaign aimed to highlight the refresh, service and comfort on offer.
Andrew Cosslett, chief executive of IHG, says its emphasis on reducing costs and building its brands has “put us in great shape to increase share in what is now a rising market”.
The company is also planning a relaunch of its boutique brand Hotel Indigo ahead of 10 international openings planned for this year.