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.