On June 3rd, it was reported that Marriott International, a multinational hotel group, announced that due to Russia’s invasion of Ukraine and the increasing economic sanctions on Moscow, the company was unable to continue its operations and decided to pull out of the Russian market after more than 25 years.
In addition, the company has closed its corporate office in Russia and paused the upcoming opening of hotels and all future hotel development and investment in Russia. However, Marriott would remain focused on taking care of its Russia-based associates. Besides Marriott, McDonald’s, Starbucks, and other luxury-goods groups, including Louis Vuitton, have all given up the Russian market.
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