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Hyatt Hotels has made the decision to suspend its development activities and any new investments in Russia, effective immediately.
The group said it will continue to evaluate hotel operations in Russia, while complying with applicable sanctions and US government directives as it “hopes” for a resolution to this crisis.
Understanding that many people in Russia face challenges and uncertainty about their future as well, Hyatt said it is determining how best to support and care for hotel colleagues and current guests in the country.
According to the group, it is “heartbroken” over the devastation unfolding in Ukraine and the mounting tragedies resulting from military actions, including lives lost, families separated and the displacement of millions of people.
Its focus remains on the safety and wellbeing of its colleagues and guests in both Ukraine and neighbouring countries who face these “unconscionable” challenges.
The group added it is caring for those impacted by the tragedy, including providing refugee accommodations across Europe, sending supplies to the people of Ukraine, job transfers for Hyatt colleagues and a relief fund for those in need of basic necessities, relocation support and care.
