Marriott Worldwide, Inc., a reservation service franchise, announced it was giving up its operations in Russia. The company cites Western economic sanctions as the main cause for its exit.
Marriott International, the world’s biggest hotel chain, announced that it would close its Moscow office and pause investment in Russia in response to the invasion of Ukraine. However, its 22 hotels in Russia were mostly owned by third parties and remained open. In a statement, Marriott said: “We have come to the view that newly announced US, UK, and EU restrictions will make it impossible for Marriott to continue to operate or franchise hotels in the Russian market.”
The company stated it remained “focused on taking care of our Russian-based partners” and had been supporting employees in Ukraine and Russia to secure jobs with Marriott abroad after fighting broke out.
Marriott International said that it continues to support Ukraine’s sovereignty and territorial integrity, while also wishing for an end to the violence in Eastern Ukraine. The company is joining McDonald’s, Starbucks, and other companies in closing its Russian locations due to economic sanctions aimed at isolating Russia economically, as well as public outcry over Vladimir Putin’s invasion of Crimea.
“The process to suspend operations in the market where Marriott has been present for 25 years is complex,” the company indicated.
Marriott declined to comment further on its impending exit.
French carmaker Renault’s assets in the country were nationalized by the government, while burger giant McDonald’s sold its restaurants to an existing franchisee.