Stock Groups

Radisson suspends new partnerships, investments in Russia -Breaking

[ad_1]

2/2
© Reuters. FILE PHOTO – The Radisson Hotel Group logo is seen above its main entrance, in central Brussels on August 4, 2017. REUTERS/Francois Lenoir

2/2

(Reuters] Radisson Hotel Group stated Friday it had stopped new partnership and investment in Russia in light of Moscow’s invasion in Ukraine.

It is the latest Western-owned hotel chain, and Western companies to reduce or stop business in Russia.

In a statement, the company claimed that they will still be operating as we continue to play an important role in supporting local communities and employees.

Radisson and six global hotels chains were sent an open letter by two agencies, the Ukrainian Hotel and Resort Association and State Agency for Tourism Development of Ukraine on March 14, asking them to stop all Russian operations and exit license and franchise agreements.

According to the company, all Radisson Hotel Group property in Russia is owned by third parties.

On the booking website of Radisson Hotels Russia, there are 38 hotels.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]