Major hotel chain suspends Russian expansion

Hotel chain Marriott announced on Thursday that it has decided to suspend all future hotel development and investment in Russia due to the situation in Ukraine. Existing hotels in the country will continue to operate.

The company will also close its corporate office in the country, joining its peers Hilton Worldwide Holdings and Hyatt Hotels, which 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,” Marriott said.

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