Radisson suspends new partnerships, investments in Russia

(Reuters) – Radisson Resort Group stated on Friday it had suspended new partnerships and new investments in Russia, within the wake of Moscow’s invasion of Ukraine.

The corporate is the newest lodge chain and Western firm to cut back plans or halt enterprise in Russia.

“We proceed to function in some capability as we play a key function in supporting workers and native communities,” the corporate stated in an announcement.

Two companies – the Ukrainian Resort and Resort Affiliation and the State Company for Tourism Improvement of Ukraine – despatched Radisson and 6 different international lodge chains an open letter on March 14 urging them to pause all operations in Russia in addition to exit franchise and license agreements no matter price.

All Radisson Resort Group properties in Russia are owned by third events, the corporate added.

There are 38 Radisson Resorts in Russia listed on the corporate’s reserving web site.

(Reporting by Doyinsola Oladipo; Modifying by Edmund Blair)