IHG operates 17 hotel brands under four collections. Credit: Bertrand Duperrin/Flickr (Creative Commons).

Hospitality company IHG Hotels & Resorts has revealed that it will not resume any investment and development activity in Russia in the near future.

IHG, which owns 17 brands under four collections, took the decision in response to Russia’s invasion of Ukraine.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The latest update comes a month after the company suspended investment, development activity and new hotel openings in the country.

In addition, the company revealed that it is closing its corporate office in Moscow but will continue to support its employees.

IHG in a statement said: “We continue to be deeply saddened by the humanitarian crisis as a result of the war in Ukraine. We have previously announced the suspension of future investments, development activity and new hotel openings in Russia. We do not intend to resume any investment or development activity in the foreseeable future.”

“These steps followed significant donations to our humanitarian charity partners and a commitment to work with hotel owners in other countries to shelter refugees.”

IHG operates in Russia through long-term management or franchise agreements with independent third-party companies that own the hotels.

The company along with hotel owners are assessing these contracts due to the rising operational challenges in the country.

IHG said that these contracts are complicated and will need some time to evaluate and process them.

Meanwhile, the company plans to continue supporting its teams in the hotels in Ukraine and Russia.

The company will also donate profits from Russia to support relief efforts.

Last month, major hotel companies including Hyatt, Hilton, Marriott International and Accor suspended their future development activities in Russia in response to the crisis.