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Radisson suspends new partnerships, investments in Russia

Radisson suspends new partnerships, investments in Russia
Radisson suspends new partnerships, investments in Russia   -   Copyright  Thomson Reuters 2022
By Reuters

– Radisson Hotel Group said on Friday it had suspended new partnerships and new investments in Russia, in the wake of Moscow’s invasion of Ukraine.

The company is the latest hotel chain and Western company to scale back plans or halt business in Russia.

“We continue to operate in some capacity as we play a key role in supporting employees and local communities,” the company said in a statement.

Two agencies – the Ukrainian Hotel and Resort Association and the State Agency for Tourism Development of Ukraine – sent Radisson and six other global hotel chains an open letter on March 14 urging them to pause all operations in Russia as well as exit franchise and license agreements regardless of cost.

All Radisson Hotel Group properties in Russia are owned by third parties, the company added.

There are 38 Radisson Hotels in Russia listed on the company’s booking site.