- Marriott International Inc MAR has decided to close its Moscow corporate office and pause the opening of upcoming hotels in Russia, effective immediately.
- The hotel chain also halts all future hotel development and investment in Russia.
- Marriott has joined its counterparts, including Hilton Worldwide Holdings Inc HLT and Hyatt Hotels CorpH, 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.
- Price Action: MAR shares are trading higher by 2.85% at $164.02 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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