Holiday Inn-owner cuts spending as demand hits record lows

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 trips and holidays cancelled as countries impose draconian restrictions to try to curb its spread...