Hilton, Hyatt And Marriott Suspend Development Activity In Russia
US hotel operator Hilton Worldwide Holdings Inc HLT.N on Wednesday 9 March decided to close its corporate office in Moscow and suspend all new development activities in Russia following the country's invasion of Ukraine.
Hilton's suspension plans follow dozens of other Western companies, ranging from Apple AAPL.O, Boeing BA.N to Norway's Equinor ASA EQNR.OL, that have halted business or announced plans to abandon their Russia operations.
Hyatt Hotels Suspends Development Activities And Any New Investments In Russia
Hyatt Hotels H.N on Wednesday 9 March also announced its decision to suspend development activities and any new investments in Russia, effective immediately.
McDonald's, PepsiCo, Coca-Cola and Starbucks also became the latest companies to stop sales of their best-known products in Russia on Tuesday 8 March.
Russia, which calls its invasion of Ukraine a "special military operation", has been hit by sweeping western sanctions that have choked trade, led to the collapse of the rouble and further isolated the country.
Marriott Pauses Opening New Hotels, Investment In Russia
The above news was followed by news that hotel chain Marriott International Inc MAR.O said on Thursday 10 March taht it has decided to pause the opening of upcoming hotels and all future hotel development and investment in Russia, following Moscow's invasion of Ukraine.
The company will also close its corporate office in Russia, joining its peers Hilton Worldwide Holdings Inc HLT.N and Hyatt Hotels corp H.N who, as stated above, announced similar moves on Wednesday 9 March.
"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.