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IHG delivers more growth in Russia and the CIS with the signing of three hotels

26/10/2013 18:53 (173 Day 13:06 minutes ago)

The FINANCIAL -- InterContinental hotels Group, one of the world’s largest hotel companies, is delivering more growth across Russia and the CIS with the signing of three more hotels in the region: Holiday Inn Express Naberezhnye- Chelny, Holiday Inn Express Samara and Staybridge Suites Baku, according to IHG. 

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Holiday Inn Express Naberezhnye- Chelny is the third hotel to be signed as part of the multiple development franchise agreement signed in March 2013 with Regional Hotel Chain (RHC), a portfolio company of VIY Management (VIYM), to develop 15 new hotels in Russia by 2019. The 145-room new-build property is due to open in the second quarter of 2015 and is not only the first IHG hotel to be built in Naberezhnye Chelny, but also the first internationally branded hotel in the local area.

Similarly, the newly built 115 room Staybridge Suites hotel will be the first branded extended-stay hotel in Baku, Azerbaijan.  Operating under a franchise agreement with Asnaf Alkon Group, Staybridge Suites Baku will be located in an area showing high demand for extended stay due to the city’s booming energy industry and an influx of tourism from neighbouring countries.

Holiday Inn Express Samara will operate under a franchise agreement with Rosa Mira Group, a first time owner with IHG. The 145-room hotel is to be newly constructed following a conversion from an office building and is due to open towards the end of 2015. The hotel will occupy a central location in the city of Samara which will be a host city for the 2018 FIFA Football World Cup, according to IHG.

IHG has made a firm commitment to growth in Russia and the CIS with plans to have 100 hotels open or in the pipeline by 2020. This expansion will be primarily driven by IHG’s Holiday Inn® and Holiday Inn Express brands in primary and secondary cities across the region.

“These three signings demonstrate IHG delivering its growth ambition across Russia and the CIS.  We continue to see considerable headroom for growth here, particularly in the mid-scale and upper-mid scale segments. The Holiday Inn Express brand is gaining great momentum across Europe and despite being a new hotel brand in Russia; we’re delighted it is being so positively received in this region. The brand has strong consumer appeal worldwide and it is proving just as popular with our owners and investors. Its efficient concept reduces build costs and operating costs, supporting a strong return on investment,” Robert Shepherd, IHG Chief Development Officer, Europe said.

 

 

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Politics
Parliament issues strong call for EU lobby transparency register to become mandatory

16/04/2014 16:53 (1 Day 15:06 minutes ago)

The FINANCIAL -- The report approved by MEPs gives an important signal to the European Commission that a far more ambitious approach is needed to secure genuine lobby transparency in the EU, according to EUbusiness Ltd.

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