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Benzinga
Benzinga
Travel
Shivani Kumaresan

Marriott Closes Moscow Office, Halts Investments In Russia

MAR Russia Marriott Moscow NYSE Hilton Worldwide Holdings Inc HLT Hyatt Hotels Corp Marriott International Inc
  • Marriott International Inc (NASDAQ: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 (NYSE:HLT) and Hyatt Hotels Corp(NYSE:H), 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.
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