For those of you that might be interested:

Welcome to the InterContinental Insights Photo Contest.

At InterContinental Hotels & Resorts we share our local knowledge with our guests every day. And now, we would like you to share yours with us.

http://www.intercontinentalinsights.com/

# Opens March 21, 2007
# Closes July 1, 2007

My understanding of the rules is that the each photo entered can be used by the Sponsors "including commercially using and exploiting it to fullest extent possible" without remuneration. Is this correct? If so, is this typical of photo contests?

See section 7 under "terms and conditions".

That is indeed typical. Pros beware.