Marriott International Inc. announced that the international hotel chain has decided to suspend the opening of all upcoming properties and halt all future hotel development and investment 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 the ability for these hotels to remain open,” the company said.
According to the CEO of the Bethesda company, Marriott has 28 properties in Russian Federation.
Marriott International Inc. will also close its corporate office in Russia, joining its peers Hilton Worldwide Holdings Inc. and Hyatt Hotels Corporation who announced similar moves on earlier this week.
Russia, which is blatantly denying the obvious, and is calling its unprovoked full-scale 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.
Marriott International, Inc. is an American multinational company that operates, franchises, and licenses lodging including hotel, residential, and timeshare properties.
Marriott is the largest hotel chain in the world by the number of available rooms.
It has 30 brands with 7,642 properties containing 1,423,044 rooms in 131 countries and territories.
Of these 7,642 properties, 2,149 are operated by Marriott, and 5,493 are operated by others pursuant to 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.
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