- 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.
