IHG, Crocus Group to build world's biggest Holiday Inn in Moscow

InterContinental Hotels Group (IHG) and Crocus Group have signed a deal to build the world's biggest Holiday Inn hotel in Moscow, with an investment of more than $100 mln by Crocus Group.

Under the 20-year management contract, construction on the 1,000 bedroom hotel is scheduled to start in 2011, with the hotel set to open in 2014. It will be located in Crocus City in the rapidly developing Krasnogorsk area of Moscow.

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

Kirk Kinsell, president of IHG EMEA, 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.'