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IHG, Crocus Team To Build World’s Largest Holiday Inn In Moscow

MOSCOW—IHG and Crocus Group have signed a deal to build the world’s biggest Holiday Inn hotel here, with an investment of more than $100 million from Crocus. ‘nUnder the 20-year management contract, construction is scheduled to start on the 1,000-bedroom hotel 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. ‘nThis new Holiday Inn in Moscow will have meeting facilities occupying 2,500 square meters, three restaurants and a 1,200 square meter health club. ‘n”Ten years ago we opened our first Holiday Inn in Moscow,” said Kirk Kinsell, president, IHG Europe, Middle East and Africa. “In five years we’re going to open the world’s biggest Holiday Inn. This deal marks a seminal moment for IHG and shows the progress we are making in this important gateway city.” ‘n”At Crocus, we are always looking to work with partners on innovative and ambitious projects that anticipate and meet the future needs of Russian consumers,” said Aras Agalarov, founder and president of Crocus Group. “The opportunity to create the world’s biggest Holiday Inn at Crocus City in Moscow is one of those projects.” ‘nIHG has seven hotels open in Russia including six Holiday Inn hotels (Holiday Inn Moscow Lesnaya, Holiday Inn Moscow Suschevsky, Holiday Inn Moscow Sokolniki, Holiday Inn Moscow Vinogradovo, Holiday Inn Chelyabinsk Riverside, Holiday Inn Samara) and one Crowne Plaza hotel (Crowne Plaza Moscow World Trade Centre). The company also has 13 hotels in the pipeline for Russia including seven Holiday Inn hotels, three Crowne Plaza hotels, two Staybridge Suites and an InterContinental Hotel in Moscow.’