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 Kiev, 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.