The company had decided last March to cancel the opening of future developments and all future developments and investments in the country
File photo of the Courtyard Marriott hotel logo in Manhattan Mar 23, 2022. REUTERS/Andrew Kelly
The Marriott hotel chain said this Friday that it will suspend its operations in Russia after more than 25 years.
The company decided on March 10 to suspend the opening of upcoming hotels and all future hotel developments and investments in Russia, following Moscow’s invasion of Ukraine. “We remain focused on taking care of our Russia-based associates,” Marriott said.
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Hotel chain Hilton Worldwide suspended all development activity in Russia in March and closed its corporate office in Moscow.
Marriott thus joins a long list of multinational companies that decided to suspend their operations in Russia due to the invasion of Ukraine.
People walk past a closed store of sporting goods retailer Nike at a shopping mall in Saint Petersburg, Russia, on May 25, 2022. REUTERS/Anton Vaganov
Recently, Nike announced the suspension of sales in partner stores of the brand in Russia and the interruption of all its partnerships with retailers in that country.
The Beaverton-based multinational ( northwestern state of Oregon) justified the decision by the “operational difficulties” in Russia.
According to the Russian newspaper Vedomosti, the distribution agreements that Nike had with its two main commercial partners in Russia come to an end on Thursday, especially with the group Inventive Retail Group (IRG), which manages the Up & Run, a total of 37 in that country.
The American chain of coffee shops Starbucks decided to stop operating definitively in Russia, following other multinationals such as the fast food McDonald’ s, which reached an agreement to sell its business to a local businessman.
Other foreign companies such as the H&M store, the French automaker Renault and The Swedish chain of household goods Ikea have also abandoned their activities in Russia after the invasion of Ukraine launched on February 24 and the economic sanctions of Western powers against Moscow.
(With information from Reuters)