Marriott hotels suspends operations in Russia
Marriott International announced last week that it is suspending all operations in Russia due to the impact of sanctions against the country following its invasion of Ukraine in February.
The American based hotel giant has already closed its corporate office in Moscow, as well as “pausing” the opening of new properties and all future development and investment in Russia.
Marriott has now decided to suspend all operations in Russia due to the impact of new US and European sanctions as the war continues into its fourth month.
U.S President Biden announced a ban on Russian oil imports to the U.S back in March.
Since then, the United Kingdom and European Union (EU) have implimented their own sanction packages also banning oil imports from Russia.
The sanctions package is the sixth levied by the EU thus far and will phase out the imports of Russian crude oil over the next six months. The EU will phase out refined petroleum imports over eight months.
“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,” said Marriott in a statement.
“We have therefore made the decision to suspend all Marriott International operations in Russia. The process to suspend operations in a market where Marriott has operated for 25 years is complex.”
Marriott added that it “remain focused on taking care of our Russia-based associates” as it has been doing since the war started in late February.
“Since the war began, we have supported associates in Ukraine, Russia and across the region, including securing employment with Marriott outside of countries directly affected by the conflict,” added the hotel company.
“We have deployed $1 million in internal disaster relief funds for associates and their families to assist with resettlement aid, including food vouchers, transportation assistance, medical and legal support.”
The hotel chain is currently housing refugees from Ukraine at 85 of their properties in neighbouring countries. Marriott has also hired more than 250 refugees at 40 hotels across 15 European nations.
read articles
The "keys" to working from home
/2022-08-29
The Pass the Keys Franchise is a new approach to property management.
Where can you find the iconic hotel chain’s six new premises?
The car rental company making (low CO2) tracks in every corner of the world.
Direct Booker is quickly becoming a world-renowned travel brand and is one of the top 3 fastest growing companies in Croatia.
most read
Chick-fil-A sets sights on Europe
/2023-03-15
The fast-food restaurant chains $1 billion international expansion plan
Over one billion YouTube videos are watched around the world every single day.
Explore Edu3Dcation franchise opportunities, offering innovative 3D experiences for children.
The Fornetti Group is working to become a leader in the franchise market of frozen bakery products not only in Hungary but also in Europe.
A franchise package, otherwise known as a franchise license is at the heart of every franchise system. It contains the franchisors complete business concept from A to Z.