InterContinental Hotels: Russia & CIS are “huge growth opportunity”
InterContinental Hotels Group says that it sees Russia and the Commonwealth of Independent States – encompassing most of the former Soviet Union except for the Baltic countries – as a “huge growth opportunity”, and plans to have 100 hotels open there by 2020. Angela Brav, chief executive officer for IHG in Europe, made the announcement on a trade mission to Russia with the British Prime Minister to boost trade ties between the two countries. These hotels will create more than 8,000 new jobs for local people in addition to the 2,500 already working at IHG brand hotels across the region. The group currently has 16 hotels in Russia and the CIS, including 11 in Russia. It says it is expanding into regional centres such as Samara, Yekaterinburg, Chelyabinsk and Novosibirsk. It will also continue to grow in Moscow and St Petersburg.
“We see a huge opportunity to grow our hotel brands, such as Crowne Plaza and Holiday Inn, in Russia,” Brav said. “In Moscow there are just over 9,000 international standard rooms, which is equivalent to around 10% of the hotel rooms in London, so there is still a terrific opportunity for international hotel operators with a presence here. We’re working with Crocus Group to build Europe’s biggest Holiday Inn here in Moscow, with 1,000 rooms, due to open in 2014.”
[pictured: Holiday Inn Chelyabinsk Riverside; courtesy IHG]