InterContinental Hotels Group has signed a franchise multiple development agreement with Regional Hotel Chain, a portfolio company of VIY Management to develop 15 new hotels in Russia by 2019.
The deal will double the size of IHG’s estate there as it stands today, and will introduce the Holiday Inn Express brand to the region for the first time.
The 15 new Holiday Inn Express hotels will add approximately 2,250 rooms, when signed, to IHG’s current Russia development pipeline of over 1,700 rooms.
The locations for the first two of these hotels are Chelyabinsk and Voronezh.
Holiday Inn Express Voronezh - Kirova is due to open in the second half of 2014 and Holiday Inn Express Chelyabinsk - Central Station, is scheduled to open in summer 2015.
IHG’s chief executive officer, Europe, Angela Brav said: “This is a breakthrough for IHG in Russia. It marks the debut of the Holiday Inn Express brand there and, when the hotels open we will have doubled the size of our system as it stands in Russia today, making a significant step towards our ambition to be market leaders.”
The Holiday Inn Express brand is designed to be the smart choice for value-conscious business and leisure travellers.