IHG Hotels & Resorts in the process of ceasing ops in Russia
It had earlier also closed its corporate office in Moscow
IHG Hotels & Resorts has announced that it is now in the process of ceasing all operations in Russia, consistent with evolving UK, US and EU sanction regimes and the ongoing and increasing challenges of operating there. However, the group said that it would continue to be focussed on supporting its teams in Russia and in Ukraine.
Earlier, the group had announced that in the aftermath of the war in Ukraine, it was suspending future investments, development activity and new hotel openings in Russia, with no intention of resuming any investment or development activity in the foreseeable future. It had also closed its corporate office in Moscow.
On April 8, the group had announced that it was in discussions with the owners of the 28 IHG-branded hotels in Russia regarding the complex, long-term management and franchise contracts under which these hotels operate.
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