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