Kommersant learned about the departure from Russia of the owner of Holiday Inn hotels

In March, the operator InterContinental Hotel Group suspended investments, development activities and the opening of new hotels in RUSSIA.Now the group is preparing to leave the country

The British hotel operator InterContinental Hotel Group (IHG), which owns the Holiday Inn, Intercontinental and other hotels, is discussing the termination of management contracts with the owners of Russian hotels. Kommersant writes about this with reference to the owner of the Holiday Inn facility and two sources from among the consultants.

According to a source close to IHG, the discussion is about "operational changes." IHG headquarters did not comment on the information.

According to sources of the publication, the British operator is ready to completely curtail business in Russia due to political risks. He plans to negotiate with the owners of the facilities on the termination of contracts by agreement of the parties in order to avoid fines.

Hilton and Hyatt to suspend development activities in Russia Business

Partner of Ivashkevich Hospitality Stanislav Ivashkevich noted that, as a rule, Western hotel chains conclude contracts under British, Belgian or Danish law, where the rights of hotel operators are more protected. According to PFM Managing DIRECTOR Yana Ukhanova, the contracts contain a force majeure clause, which will help terminate the contract without penalties for IHG. Experts believe that the departure of the international network is an alarming sign, such a step will seriously affect the hotel services market.

On March 10, IHG announced that it was suspending investments, development activities and opening new hotels in Russia, and closing its Moscow office due to the Russian military operation in Ukraine. The group added that it has "long-term management or franchise agreements with independent third parties that own hotels in Russia."

According to E&Y, IHG manages 29 hotels in Russia with a total fund of 6.6 thousand rooms; the operator is one of the three largest international chains in the hotel market. Crowne Plaza, InterContinental, Holiday Inn and Indigo brands are represented in the country.

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The suspension of the opening of new hotels in Russia was announced by the American hotel chain Marriott, the Finnish Sokos and others. Hilton and Hyatt have suspended development activities in the country.

In mid-March, Vice-President of the Federation of Restaurateurs and Hoteliers of Russia Vadim Prasov said that he had received requests from hotels that are managed by major international brands about the possibility of transferring to Russian operators.

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