March 18 (Reuters) – Radisson Lodge 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. learn extra
“We proceed to function in some capability as we play a key position in supporting staff and native communities,” the corporate mentioned in a press release.
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Two businesses – the Ukrainian Lodge 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 value.
All Radisson Lodge Group properties in Russia are owned by third events, the corporate added.
There are 38 Radisson Inns in Russia listed on the corporate’s reserving web site.
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Reporting by Doyinsola Oladipo; Modifying by Edmund Blair
