InterContinental Hotels Group (IHG) is continuing its Russian expansion with the opening of a new Crowne Plaza Hotel in St Petersburg and an InterContinental in Moscow. The two hotels are scheduled to open in early 2009 and in 2010 respectively.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
