InterContinental Hotels Group signs third Kiev hotel (Ukraine)
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InterContinental Hotels Group signs third Kiev hotel (Ukraine)
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Category: Europe - Ukraine - Industry economy -
Hotel projects
This is a press release selected by our editorial committee and published online for free on 2008-08-01
IHG today announces it has signed an agreement to develop its first Crowne Plaza hotel in the Ukraine capital.
The 225 Crowne Plaza Kiev, planned to open the year Ukraine jointly hosts Euro 2012, will be the third IHG hotel in Kiev. IHG has already signed agreements to develop the InterContinental Kiev, due to open end 2008, and Holiday Inn Kiev, due to open end 2009.
The Crowne Plaza Kiev is being developed by owner ITT-Plaza, part of the major Ukrainian investment company ITT Investment Group. The hotel will be run by IHG under a 15-year management contract.
Crowne Plaza Kıev, on Korolenkivska Street, Holosiivskyi, is set in a prime location in the commercial heart of Kiev, seven kilometers from the city's historical centre. It will form part of a 120,000 square metre major new office development.
According to the World Bank, Ukraine has enjoyed an average 5.4 per cent GDP growth in the 10 years to end-2005; in 2006 this figure rose to 7.1 per cent.
IHG's Chief Operating Officer Continental Europe Robin Wicks said: "This is a very exciting time to be developing hotels in the Ukrainian capital; there is a strong demand which will only grow from both business and leisure travellers. ITT-Plaza brings enormous knowledge and experience to the relationship - and IHG is delighted to be working with them on our first Crowne Plaza in Kiev."
ITT's President Oksana Markarova, said: "This development is a major investment and opportunity for Kiev. The Crowne Plaza brand and product is perfect - and IHG's expertise in managing hotels is second-to-none. We look forward to opening the doors in 2012."
Kiev is served by two airports - the main one, Boryspil International Airport, less than an hour to the hotel, handled 5.6 million passengers in 2007, one million more than the previous year; an extra terminal is planned for 2009, expanding its capacity to eight million.
In 2012 Ukraine will jointly host the Euro 2012 football championships; the final will be played at Kiev's Olympic stadium.
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