The owner of InterContinental and Holiday Inn announced his departure from Russia

The owner of InterContinental and Holiday Inn announced his departure from Russia
Photo is illustrative in nature. From open sources.
In March, the operator InterContinental Hotels Group suspended investments, development activities and the opening of new hotels in Russia.The group has now officially announced their departure from the country.

The British company InterContinental Hotels Group (IHG), which owns the chains of hotels Holiday Inn and Crowne Plaza, announced the termination of all its activities in Russia. The statement was published on the company's website.

“We are now working to terminate all operations in Russia due to the changing UK, US and EU sanctions regimes, as well as ongoing and growing operational challenges in the country,” the statement said.

At the same time, the company noted that they continue to support employees from Ukraine and Russia.

Kommersant learned about the departure from Russia of the owner of Holiday Inn hotels Business

At the end of April, Kommersant, citing sources, wrote that the British operator was ready to completely curtail business in Russia due to political risks. He plans to negotiate with the owners of the facilities on the termination of contracts by agreement of the parties in order to avoid fines.

On March 10, IHG announced that IT was suspending investments, development activities and new hotel openings in Russia, and closing its Moscow office.

According to EY, in Russia IHG manages 29 hotels with a total fund of 6.6 thousand rooms; the operator is one of the three largest international chains in the hotel market. Crowne Plaza, InterContinental, Holiday Inn and Indigo brands are represented in the country.

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