Hilton, Hyatt Stop Developing New Hotels in Russia
Photographer: Bing Guan/Bloomberg
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Marriott International Inc. and Hilton Worldwide Holdings Inc. are suspending the development of new hotels in Russia, joining a corporate backlash against the invasion of Ukraine.
The announcements follow decisions by McDonald’s Corp., Starbucks Corp., and other iconic U.S. brands to stop doing business in the country. Neither Marriott nor Hilton has halted operations at existing hotels. Russia’s government has outlined a proposal to seize and even nationalize some foreign-owned businesses that leave the market.