
In British English this should be spelled as "hold-up" and in American English "holdup". "Hold up" is a phrasal verb.
Sources:
http://oald8.oxfordlearnersdict...ionary/hold-up
http://oaadonline.oxfordlearner...tionary/holdup

For the record, as a native American English speaker, the way this is written is exactly how I would write it, "correct" or not. "holdup" as one word brings to mind robberies ;)
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