Marriott Suspends All Operations In Russia - Read The Latest Update

by Shivani Kumaresan, Benzinga Staff Writer
June 3, 2022 12:54 PM | 1 min read |
  • Marriott International Inc MAR said it has decided to suspend all international operations in Russia.
  • The decision comes as the newly announced restrictions by the U.S., U.K., and the European Union will make it impossible to continue operations or franchise hotels in the Russian market.
  • The hotel chain has been operating in the Russian market for twenty-five years.
  • On March 10, the company decided to close the corporate office in Moscow and pause the opening of upcoming hotels and future hotel development and investment in Russia.
  • Related: Marriott Closes Moscow Office, Halts Investments In Russia
  • Price Action: MAR shares are trading lower by 0.14% at $174.18 on the last check Friday.
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