Holiday Inn owner IHG IHG.L said on Monday 27 June that it was stopping all operations in Russia due to western sanctions and increasing challenges of doing business there after the Ukraine invasion.
New Investments And Developments
IHG, also owner of the Crowne Plaza, Regent and Hualuxe hotel chains, had already stopped new investments and development activities in Russia and closed its corporate office in Moscow.
In Talks
It was also in talks with the owners of its IHG-branded hotels in Russia regarding the "complex, long-term management and franchise contracts under which these hotels operate."
News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.
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