Holiday Inn Owner IHG Suspends Investments In Russia

By Dave Simpson
Holiday Inn Owner IHG Suspends Investments In Russia

Holiday inn owner InterContinental Hotels Group (IHG) IHG.L said on Thursday 10 March that it was suspending future investments, development activity and new hotel openings in Russia and will close its Moscow office following Russia's invasion of Ukraine.

Working To Offer Refugees Accommodation

The London-listed company said that it was also working with its franchisees in countries neighbouring Ukraine to offer refugees temporary accommodation.

Colleagues And Independent Third-Party Companies

IHG also said that it will continue to support its colleagues despite closing its corporate office in Moscow, and that it has long-term management or franchise agreement with independent third-party companies that own the hotels in Russia.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.