IHG Sets Sights on Hotel Expansion in Russia
Published: April 10, 2014 (Issue # 1805)
InterContinental Hotels Group, or IHG, have plans to open 70 hotels across Russia by 2020, Aron Libinson, Vice President of Strategic Development Russia and CIS, told reporters in St. Petersburg Tuesday, reported Interfax Wednesday.
The company will focus on opening its luxury brand hotels in large cities, while its Holiday Inn Express and lower cost brands will open in smaller regions, he said.
On Monday, the company unveiled its new hotel in St. Petersburg - Hotel Indigo. Located on Ulitsa Tchaikovskogo, it's the first of its brand to open in Eastern Europe and Russia. With a room capacity of 119, the hotel is estimated to has cost $1.5 billion.
According to Libinson, IHG have plans to open another Holiday Inn and Crowne Plaza in the city during 2015-16.
Libinson also noted that opening hotels in Crimea is also a possibility depending on investors and tourists numbers, reported Interfax.
IHG currently franchises, leases, manages or owns nine hotel brands including InterContinental Hotels and Resorts, Hotel Indigo, Crowne Plaza Hotels and Resorts, Holiday Inn Hotels and Resorts, Holiday Inn Express, Staybridge Suites, Candlewood Suites, EVEN Hotels and HUALUXE Hotels and Resorts.
Over the next few years, IHG plan to open 1,100 hotels worldwide.