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(Reuters) – Hotel chain Marriott International (NASDAQ 🙂 Inc said on Thursday it has decided to pause the opening of upcoming hotels and all future hotel development and investment in Russia, following Moscow’s invasion of Ukraine.
The company will also close its corporate office in Russia, joining its peers Hilton Worldwide Holdings (NYSE 🙂 Inc and Hyatt Hotels (NYSE 🙂 corp who announced similar moves on Wednesday.
“Our hotels in Russia are owned by third parties and we continue to evaluate the ability for these hotels to remain open,” the company said.
Russia, which calls its invasion of Ukraine a “special military operation”, has been hit by sweeping Western sanctions that have choked trade, led to the collapse of the ruble and further isolated the country.
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