Major hotel operator InterContinental Hotel Group (IHG), which owns the brands Holiday Inn, InterContinental, Crowne Plaza and Indigo, has announced its withdrawal from Russia.
The UK-headquartered company is currently negotiating with Russian hotel owners to terminate management contracts, according to one source. According to another source, we are talking about a “change in operations” of the operator in Russia.
In Russia, IHG manages 29 hotels with a total stock of 6,600 rooms. The operator is one of the three largest international chains in the hotel market.
Recall that in March the operator InterContinental Hotel Group suspended investments, development activities and the opening of new hotels in Russia.