InterContinental Hotels Group has signalled further expansion in Russia and the CIS with the signing of three more hotels.
The new 145-room Holiday Inn Express Naberezhnye-Chelny, 145-room Holiday Inn Express Samara and 115-room Staybridge Suites Baku will be in addition to 19 hotels with 5,283 rooms already open in the region.
The Holiday Inn Express Samara, due to open by the end of 2015, will occupy a central location in one of the host cities for the 2018 World Cup.
IHG has a further 10 hotels (2,644 rooms) currently in the pipeline.
The group plans to have 100 hotels open or in the pipeline in Russia and the CIS by 2020. This expansion will mainly be driven by IHG’s Holiday Inn and Holiday Inn Express brands in primary and secondary cities across the region.
European chief development officer Robert Shepherd said: “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.”
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