InterContinental Hotels Group has signed three hotels in Central Asia and Russia: Holiday Inn Express Naberezhnye-Chelny, Holiday Inn Express Samara and Staybridge Suites Baku.
The Naberezhnye- Chelny hotel is to be the third property which will come under the multiple franchise agreement with Regional Hotel Chain (RHC), which has 15 properties signed with IHG through its portfolio company VIY Management. The plan is to develop 19 new properties in Russia by 2019. Today’s announcement is for a 145-room Holiday Inn to open in the second quarter of 2015.
The 1115-room Baku property, in Azerbaijan, will operate under a franchise agreement with Asnaf Alkon Group while the Holiday Inn Samara, which will also operate under franchise, by the Rosa Mira Group, will open towards the end of 2015. Samara is to be a host city for the 2018 World Cup.
Robert Shepherd, IHG chief development officer, Europe 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.”