Marriott halts new investments in Russia

American hotel chain Marriott International Inc. announced on Thursday it has stopped the development of new hotels and other investments in Russia due to the country's military operations in Ukraine.

"Our hotels in Russia are owned by third parties, and we continue to evaluate the ability for these hotels to remain open," Marriott noted in a statement, following the steps of other hotel chains such as Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp., which have previously closed its offices in Russia.

Baha Breaking News (BBN) / ND