Home News Radisson suspends new partnerships, investments in Russia By Reuters

Radisson suspends new partnerships, investments in Russia By Reuters

Radisson suspends new partnerships, investments in Russia By Reuters

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© Reuters. FILE PHOTO: The emblem of Radisson resort group is pictured over its primary entrance in central Brussels, Belgium August 4, 2017. REUTERS/Francois Lenoir

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(Reuters) – Radisson Resort Group mentioned 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 resort 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 mentioned in an announcement.

Two businesses – the Ukrainian Resort and Resort Affiliation and the State Company for Tourism Improvement of Ukraine – despatched Radisson and 6 different world resort 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 Lodges in Russia listed on the corporate’s reserving website.

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