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March 10, 2022updated 21 Mar 2022 11:29am

Major hotel chains suspend future development activities in Russia

The hospitality groups have closed their corporate offices in Moscow and are working to expand humanitarian efforts.

Major hotel companies have suspended their future development activities in Russia in response to the country’s invasion of Ukraine.

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Joining the growing list of firms halting their business in Russia are Hyatt, Hilton, Marriott International , IHG Hotels and Resorts, and Accor .

Hyatt in a statement said it has decided to stop development activities and any new investments in Russia, with immediate effect.

The company said that it will continue to ‘evaluate hotel operations’ in the country and comply with ‘applicable sanctions’ and ‘directives’ of the US Government.

Hyatt said: “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.”

Hilton and IHG have also issued press statements revealing their decisions amid the ongoing Ukraine crisis.  

Both the companies have shut their corporate offices in Moscow, while IHG further suspended future investments and openings in the country.

Hilton, which has 26 hotels in Russia, commits to continue work and pay for any affected employees and donate all profits from business operations in Russia to support humanitarian relief efforts for Ukraine. 

The company in a statement said: “Hilton continues to monitor the situation as it evolves. We are keeping our Team Members and all those impacted by these events in our thoughts and hope for a peaceful resolution to this crisis.”

In addition, French group Accor halted all future developments, planned as well as any loyalty partnerships with Russian companies, but will continue to operate more than 50 hotels in the country, Financial Times reported.

Marriott, which has 28 managed and franchised hotels in Russia, has decided to “pause the opening of upcoming hotels and all future hotel development and investment” in the country.

It said: “Our hotels in Russia are owned by third parties and we continue to evaluate the ability for these hotels to remain open.”

Related Companies

Free Report
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Case Study: Trip.com Group

GlobalData’s Trip.com Group case study provides an analysis of this major group’s presence in online travel. The report discusses key markets, domestic and international growth strategies, business structure, strategic investments, opportunities, and challenges. This report includes:
  • Analysis of Trip.com Group’s structure, including its use of different brands to serve different market segments
  • A clear timeline of the company’s key milestones, showing the group’s evolution and growth journey
  • Assessment of international growth strategies by the group
  • Insight into Trip.com’s ESG initiatives – looking at the importance of ESG to the travel sector
  • Opportunities and threats for the group
This report offers an analytical eye to Trip.com, leveraging GlobalData’s range of datasets to effectively explore the company’s performance and sizing of the markets in which it operates. Use this case study as a pathway to understand wider industry performance, helping you succeed in the travel and tourism market.
by GlobalData
Enter your details here to receive your free Report.

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