Image Source: Fortune
Leading hospitality group, the Marriott hotel group, has announced its exit from Russia after 25 years, citing “difficult” operations due to Western restrictions resulting from the war in Ukraine.
Following the invasion of Ukraine, the group closed its Moscow headquarters and halted further investment in Russia in March.
However, the country’s 22 hotel chains are owned by third parties and are still operating. The process of suspending operations in Russia, according to Marriott, was “complicated.” Thereby forcing the company to implement a complete withdrawal of operations, especially since it had become clear that the continued sanction of Russia by the US, UK and the EU would make it impossible for Marriott to continue to operate or franchise hotels in the Russian market.
The business stated that it was “committed to taking care of our Russian-based employees” and that it has been helping these employees in Ukraine and Russia in finding work with Marriott hotel outside of conflict-affected nations.
Reiterating its commitment to peace, Marriott charges the world, global leaders, and comity of nations to see to the speedy settlement of the ongoing conflict and seeing to it that the ongoing violence is brought to an end quickly.
As the war in Ukraine drags on and as Western sanctions intended at economically isolating Russia increase, Marriott joins the likes of McDonald’s, Starbucks, and other firms in exiting the country.
As a result of the continued public outcry and pressure over Vladimir Putin’s invasion, Western companies have been forced to distance themselves. Hotel chains like Marriott have come under intense fire for being among the slowest to respond.
“Suspending operations in a market where Marriott has operated for 25 years is a complicated procedure,” Marriott stated in a statement.
Marriott hotel group did not provide any other information about its departure. Renault’s holdings in the country were nationalized, while burger giant McDonald’s sold its locations to an existing franchise, many of which were directly controlled by the corporation.
