Hotel Companies Freeze Hotel Developments in Russia
Countries around the world, and especially Europe and the United States, have recently announced sanctions on Russian politicians and institutions. As the Russian invasion on Ukraine intensifies, the US also announced a ban on imported Russian oil.
Now several major hotel companies are also taking a stance. Hilton, Hyatt, Marriott, IHG and Accor all announced in recent days that they would freeze new developments and suspend investments in Russia.
Hilton, Marriott and IHG also said they would close their corporate offices in Moscow, as reported by Skift. Hilton has partnered with American Express to donate up to 1 million hotel room nights in hotels across Europe to support Ukrainian refugees fleeing horrific violence in their country.
Marriott said in its announcement today that its hotels in Russia are owned by third parties and they would “continue to evaluate the ability for these hotels to remain open.”
“At this time, we have made the decision to suspend our development activities and any new investments in Russia, effective immediately”, Hyatt said in a press release. “We will continue to evaluate hotel operations in Russia, while complying with applicable sanctions and U.S. government directives as we hope for a resolution to this crisis. Understanding that many people in Russia face challenges and uncertainty about their future as well, we are determining how best to support and care for our hotel colleagues and current guests in the country.”
“We are deeply saddened and shocked by the war in Ukraine and our thoughts continue to be with all those impacted by these horrific events. IHG has a commitment to look after the people and communities where we have a presence around the world,” IHG said in its statement. “We have long-term management or franchise agreements with independent third-party companies that own the hotels in Russia.”
Hilton is also partnering with American Express for an initiate to donate up to 1 million hotel room nights in hotels across Europe to support Ukrainian refugees fleeing the war and violence in their country.
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