5 foreign stocks we love

•  Vacation where the dollar is still strong

The InterContinental Hotels Group is the largest hotel company in the world by number of rooms. The company operates seven brands in nearly 100 countries, including Crowne Plaza and Holiday Inn.

Although U.S. recession fears may hurt in the short-term, InterContinental may be better off than other hotel chains because it does not own most of its properties. About 80% of InterContinental's business comes from managed and franchised hotels.

InterContinental has been selling off real estate and transforming itself into a pure hotel management and franchise company, a move which has made the company "very well positioned" to ride out the economic crisis, says Andrew Sangster, editor of HotelAnalyst, a British publication for hotel industry investors.

Sangster said the company is in a much better position than its peers who are "real-estate heavy," he says. As such, earnings are expected to increase 18% this year, compared to projected growth of only 7% for rivals Marriott and Wyndham.

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