The world's biggest hotel chain, InterContinental Hotels Group (IHG), has announced plans to open 100 hotels in Russia and the Commonwealth of Independent States (CIS) by 2020.
The company said these hotels would create more than 8,000 Russian jobs.
IHG, which first entered Russia in 1998 when it opened the Holiday Inn Vinogradovo in Moscow, currently has 11 hotels across Russia and five in the CIS.
"We aim to grow our presence in Russia by more than six times in the next decade," Aron Libinson, IHG's vice-president for development in Russia and CIS, said in a press release.
"We believe the demand for all our brands will continue to grow over the next 10 years as domestic travel increases and greater numbers of businesspeople and tourists travel to Russia from overseas."
IHG also announced it plans to introduce its newest hotel brand, Hotel Indigo, into Russia.
Angela Brav, chief executive officer for IHG in Europe, is among 24 senior executives travelling on Monday with British Prime Minister David Cameron to Moscow.
Brav said the company was working with Russia's leading property development company Crocus Group to build Europe's biggest Holiday Inn in Moscow. The new hotel is due to open in 2014.
IHG also said it was opening the Moscow branch of the IHG Academy in February next year. The program, which first started in China, provides international standard hospitality training, helping students gain real experience of working in a hotel and enhancing their chances of finding jobs in the hotel industry