InterContinental Hotels Group announced the signing of Holiday Inn Stavropol - the first internationally branded hotel in the city. IHG will manage the hotel on behalf of new owner Metropolia 26 LLC.

Holiday Inn Stavropol will open in 2017 as part of a multi-development project in an area close to the city's cultural hub where corporate business is producing increasing hospitality demand. The newly constructed hotel will have 242-rooms and feature the Holiday Inn brand's signature Open Lobby with a dining area, media lounge and bar as well as state-of-the-art meeting facilities including five meeting rooms and a ballroom.

Robert Shepherd, IHG's Chief Development Officer for Europe, said: "We're excited and particularly proud to be the first international hotel chain to develop in Stavropol. We're also delighted to be working with Metropolia for the first time. Russia is a priority market for us and this signing is another step forward for the Holiday Inn brand there."

Natalya Kazakova, CEO of Metropolia 26 LLC said: "This is the start of a new partnership with IHG and one we are very much looking forward to seeing grow. We have high expectations for this property and due to its central location, we're confident the hotel will help meet the needs of the growing business market in the region."

As part of IHG's development plans in Russia the group recently signed a management agreement with new owner LLC "UK Platinum" to open Holiday Inn St Petersburg - Kremenchugskaya with 170 rooms hotel in 2017 near the Moskovsky railway station - the city's main connection to Moscow.