UK-based IHG (InterContinental Hotels Group), the owner of Holiday Inn, Crowne Plaza and InterContinental hotel chains in particular, will terminate operations in Russia, the company said on its website on Monday.
"We are now in the process of ceasing all operations in Russia consistent with evolving UK, US and EU sanction regimes and the ongoing and increasing challenges of operating there," the company said.
At the same time, the company remains "focused on supporting our teams in Russia and in Ukraine, in line with our commitment to care for our people and the communities in which we operate," IHG added.
