IHG Hotels & Resorts announced Monday in a statement it is ceasing all operations in Russia, “consistent with evolving U.K., U.S. and EU sanction regimes and the ongoing and increasing challenges of operating there.”
IHG’s process of reviewing its business in Russia began just after the outbreak of the war, when it announced the suspension of future investments, development activity and new openings. It also closed its corporate office in Moscow. Many Western hotel companies at the time made similar moves.
On April 8, the company shared it was in discussions with the owners of its 28 IHG-branded hotels in Russia “regarding the complex, long-term management and franchise contracts under which these hotels operate,” according to the statement.
The InterContinental Moscow – Tverskaya opened in 2011 and is the company’s highest-profile branded hotel in the country. Crowne Plaza and Holiday Inn hotels are prevalent across the country, and a Staybridge Suites and a Hotel Indigo round out the company’s portfolio there.
On June 3, Marriott announced it would suspend all operations in Russia, also citing U.K., U.S. and European Union restrictions.