Marriott International CEO Tony Capuan speaking in Davos, Switzerland, in May 2022. Photo: Jason Alden/Bloomberg via Getty Images
Marriott International will suspend all of its operations in Russia over the Kremlin's ongoing unprovoked invasion of Ukraine, the company announced Friday.
Why it matters: Marriott, which has operated in the country for 25 years, joins a long and growing list of multinational companies pulling out of Russia in response to the war and international sanctions levied against Moscow.
What they're saying: "We have come to the view that newly announced U.S., UK and EU restrictions will make it impossible for Marriott to continue to operate or franchise hotels in the Russian market," Marriott said in a statement.
- "We have therefore made the decision to suspend all Marriott International operations in Russia," it added.
- "The conflict in Ukraine, now stretching into the fourth month of fighting and displacement, has had grave humanitarian, socioeconomic and global impacts."
The big picture: Over 85 of Marriott's hotels are being used to lodge Ukrainian refugees in neighboring countries and it has provided $2.7 million to relief organizations operating in Ukraine, the company said.
- It said it has also hired more than 250 refugees across more than 40 hotels in 15 European countries.
Go deeper: The latest on Russia's invasion of Ukraine