Holiday Inn owner IHG announced a $900 million share buyback plan on Tuesday which fell short of some investors' estimates, sending its stock around 5% lower despite the hotel operator's better than expected annual room revenue.

Holiday Inn owner IHG buys Ruby Hotels as profits rise - It came as InterContinental Hotels Group revealed that operating profits grew by 10% as it benefited from more hotel openings.

UK-based IHG Hotels & Resorts is strengthening its presence in Asia by expanding its mid-priced hotel chain Holiday Inn Express in growth markets across India and Thailand. As part of this expansion,

Holiday Inn owner InterContinental Hotels Group (IHG) has snapped up another hotel brand as it reported stronger profits.

Holiday Inn owner IHG reported 3% growth in its annual room revenue on Tuesday, above market expectations, boosted by a pick-up in demand in the United States. Analysts, on average, had expected revenue per available room (RevPAR),