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.

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,

It came as InterContinental Hotels Group revealed that operating profits grew by 10% as it benefited from more hotel openings.

By Raechel Thankam Job and Yadarisa Shabong (Reuters) -Holiday Inn owner IHG is returning more than $1.1 billion to shareholders in 2025 and buying European urban hotel brand Ruby for $116 million, it said on Tuesday,