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Stock Market News

Marriott to suspend operations in Russia

06/03/2022

Less than a minute

2022.06.03 18:20

Marriott to suspend operations in Russia
FILE PHOTO: A person passes a Courtyard Marriott hotel in Manhattan, New York City, U.S., March 23, 2022. REUTERS/Andrew Kelly

(Reuters) – Marriott International (NASDAQ:MAR) Inc said on Friday it will suspend its operations in Russia after more than 25 years.

The company on March 10 decided to pause the opening of upcoming hotels and all future hotel developments and investments in Russia, following Moscow’s invasion of Ukraine.

“We remain focused on taking care of our Russia-based associates,” Marriott said.

Hilton Worldwide Holdings (NYSE:HLT) Inc in March suspended all new development activity in Russia and closed its corporate office in Moscow.

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06/03/2022

Less than a minute