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Benzinga
Benzinga
Business
Shivani Kumaresan

Marriott Suspends All Operations In Russia - Read The Latest Update

MAR United States Marriott Russia European Union Marriott International Inc Moscow Nasdaq
  • Marriott International Inc (NASDAQ: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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