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InterContinental signs deal to build largest Holiday Inn in Moscow

11 March 2009

InterContinental Hotels Group (IHG) has signed a deal to build the world's largest Holiday Inn at a retail complex in Moscow.

The company has agreed a 20-year management contract with Crocus Group, operator of the Crocus City complex in the Russian capital, for a 1,000 bedroom hotel.

Construction is scheduled to start in 2011 with the hotel set to open in 2014. It will have meeting facilities occupying 2,500 square metres, three restaurants and a 1,200 square metre health club.

There are seven IHG branded hotels in Russia and a further 13 in the pipeline making IHG the largest international hotel operator in the country.

Kirk Kinsell, president of IHG Europe, Middle East and Africa, said: "Ten years ago we opened our first Holiday Inn in Moscow. In five years we're going to open the world's biggest Holiday Inn in this wonderful city.

"This deal marks a seminal moment for IHG and shows the progress we are making in this important gateway city."

Aras Agalarov, founder and president of the Crocus Group, which is investing $100m (£72.5m) in the development, added: "We are always looking to work with partners on innovative and ambitious projects that anticipate and meet the future needs of Russian consumers.

"The opportunity to create the world's biggest Holiday Inn at Crocus City in Moscow is one of those projects."

The next largest Holiday Inn in the world is in Chengdu Century City in China at 965 rooms, followed by the property in London's Kensington which has 910 rooms.

InterContinental boosts its Russian presence >>

IHG signs agreement for 20 Holiday Inns in Germany >>

IHG launches its boutique hotel chain in Asia Pacific region >>

Credit crunch delays new InterContinental hotels >>

IHG opens first Indigo hotel in London >>

By Daniel Thomas

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