Russia’s invasions of Ukraine could result in the biggest war in Europe since 1945, putting the stability of the region at risk.
There are obviously much bigger things at stake than the travel and tourism industry but we thought it instructive to take a look at those hotel companies with the biggest exposure to various parts of Eastern Europe and Russia.
The biggest hotel companies in Russia, Ukraine and Eastern Europe
Russia
Accor – 56 hotels/9,424 rooms
Radisson – 31 hotels/9,028 rooms
Marriott – 28 hotels/6,522 rooms
Ukraine
Reikartz – 23 hotels/1,410 rooms
Accor – 6* hotels/1,039 rooms
Radisson – 5 hotels/956 rooms
Eastern Europe
Accor – 214 hotels/35,646 rooms
Marriott – 98 hotels/21,182 rooms
Data source: STR
* (Accor counts the number as 7)
Speaking on the day of Accor's full-year results announcement, CEO Sébastien Bazin addressed the situation in his remarks to analysts.
He said that although Ukraine and Russia makes up less than 1% of the network there were 2,000 Accor team members in Russia and a couple of hundred in Ukraine who needed support. their safety was the most important thing, Bazin said.
A spokesperson for Radisson said: "We are closely monitoring and following the development of the situation in Ukraine and the region. Radisson Hotel Group hotels in Ukraine, Radisson Blu Hotel, Kyiv Podil City Centre, Radisson Blu Hotel, Kyiv City Centre, and Radisson Blu Resort, Bukovel continue to operate. Park Inn by Radisson Kyiv Troyitska and Radisson Hotel City Centre Odesa are temporally closed. Radisson Hotel Group is dedicated to the well-being of all guests and team members, we are in contact with authorities and continue to adhere to instructions issued."
Marriott has also been approached for comment.