Marriott Closes Moscow Office, Halts Investments In Russia

  • 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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsTravelRestaurantsGeneralBriefsConsumer DiscretionaryHotels, Resorts & Cruise Lines
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!