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April 11, 2022

IHG not to resume Russian investments in near future

The company closed its corporate office in Moscow but will continue to support its employees.

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

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

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.

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img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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