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Holiday Inn-owner cuts spending as demand hits record lows

Holiday Inn logo is seen in Tbilisi
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LONDON (Reuters) - Demand for hotel rooms is at record lows, the company behind InterContinental and Holiday Inn hotels said on Friday, as it announced $150 million of cost cuts to help cope with travel restrictions and lockdowns caused by the coronavirus pandemic.Travel and leisure businesses have been among the worst hit by the virus outbreak, with hundred of billions of dollars in business..
Date Published: Mar 20, 2020
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