Big hotel chains have done a good job of fending off threats from the tech industry so far, but the fight is getting more expensive. The shares of InterContinental Hotels, owner of the Holiday Inn and Crowne Plaza brands, slipped Tuesday about 3% in London after new Chief Executive Keith Barr said the company wouldn’t return spare cash to shareholders this year. It needs the money for an overhaul of its reservation system, the acquisition of “one or two” luxury hotel brands, the launch of a third brand, and the upfront costs...

Source: Wall Street Journal February 20, 2018 16:48 UTC