Holiday Inn hotel chain owner announces exit from Russia

The British company IHG, which owns the Holiday Inn hotel chain, announced its withdrawal from Russia. This is stated on the company’s website.
The company said it is now in the process of terminating all of its operations in Russia. This is being done due to the changing sanctions regime of the UK, the US and the EU, as well as the increasing difficulties due to work in the Russian Federation.
Holiday Inn is one of the world’s largest hotel chains, with 1,173 operating hotels and more than 214,000 rented rooms.