IHG Lodges & Resorts has introduced that it’ll stop all operations in Russia because of the warfare in Ukraine.
The transfer comes simply weeks after fellow international lodge firm Marriott revealed it was suspending all hotel operations in Russia because of the affect of sanctions.
“We stay deeply troubled by the warfare in Ukraine and the humanitarian disaster it has induced,” mentioned IHG in an announcement.
“Following the outbreak of the warfare, we introduced the suspension of future investments, growth exercise and new lodge openings in Russia and that we didn’t intend to renew any funding or growth exercise within the foreseeable future. We additionally closed our company workplace in Moscow.”
IHG has 28 branded resorts in Russia, that are operated beneath long-term administration and franchise contracts. The lodge agency has been in discussions with the homeowners of those properties since early April.
“We at the moment are within the means of ceasing all operations in Russia according to evolving UK, US and EU sanction regimes and the continued and rising challenges of working there,” mentioned IHG.
“As we do that, we proceed to stay targeted on supporting our groups in Russia and in Ukraine, consistent with our dedication to look after our individuals and the communities by which we function.”