Marriott International Inc. announced that the international hotel chain has decided to suspend the opening of all upcoming hotels and halt all future hotel developments and investments in Russia due to Russian aggression in Ukraine.
Existing hotels in the country will continue to operate.
“Our hotels in Russia are owned by third parties and we continue to evaluate whether these hotels can remain open,” the company said.
According to the CEO of the company Bethesda, Marriott owns 28 properties in the Russian Federation.
Marriott International Inc. will also close its corporate office in Russia, joining its competitors Hilton Worldwide Holdings Inc. and Hyatt Hotels Corporation, which announced similar moves earlier this week.
Russia, which blatantly denies the obvious and calls its unprovoked full-scale invasion of Ukraine a “special military operation,” has been hit by sweeping Western sanctions that have stifled trade, led to the collapse of the ruble, and further isolated the country.
Marriott International, Inc. is an American multinational corporation that operates, allocates and licenses lodging properties, including hotels, residential properties and timeshare properties.
Marriott is the largest hotel chain in the world by number of rooms available.
It has 30 brands with 7,642 properties with 1,423,044 rooms in 131 countries and territories.
Of these 7,642 hotels, 2,149 are operated by Marriott and 5,493 by others under franchise agreements.
The company also operates 20 hotel reservation centers
It is headquartered in Bethesda, Maryland.
The company was founded by J. Willard Marriott and his wife, Alice Marriott.