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No Plans To Resume Russian Investments In Near Future, Says Holiday Inn Owner

Published on Apr 11 2022 2:40 PM in Hotel tagged: Holiday Inn / InterContinental Hotels Group / IHG

No Plans To Resume Russian Investments In Near Future, Says Holiday Inn Owner

Holiday Inn owner InterContinental Hotels Group (IHG) IHG.L said on Friday 8 April that it was not looking to resume investments or development activity in Russia for the "foreseeable future".

Suspended Operations And New Hotel Openings

IHG suspended operations and new hotel openings in the country last month following the invasion of Ukraine.

Continuing Talks With Franchisees

The London-listed hotel chain operator also said that it was continuing talks with its franchisees over their contracts for IHG-branded hotels in Russia, but the "complicated process" would take some time.

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

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