Holiday inn-owner IHG suspends investments in Russia

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FILE PHOTO: A Holiday Inn hotel is seen in Tbilisi

– Holiday inn-owner IHG said on Thursday it was suspending future investments, development activity and new hotel openings and will close its Moscow office following Russia’s invasion of Ukraine.

The London-listed company said it was also working with its franchisees in countries neighbouring Ukraine to offer refugees temporary accommodation.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Krishna Chandra Eluri)