Hilton, Hyatt stop developing new hotels in Russia

[NEW YORK] Hilton Worldwide Holdings and Hyatt Hotels said they would suspend the development of new hotels in Russia, joining a corporate backlash against the invasion of Ukraine.

The announcements follow decisions by McDonald's, Starbucks, and other iconic US brands to stop doing business in the country. Hyatt and Hilton have not halted operations at existing hotels in Russia.

In addition to pausing new hotel deals, the hospitality giants pledged support for humanitarian efforts. Hilton is partnering with American Express to donate 1 million room nights to Ukrainian refugees, according to a statement Wednesday (Mar 9).

Hilton, which closed its corporate office in Moscow, will also donate any profits from the operation of its 26 Russia hotels to relief efforts in Ukraine.

Hyatt said it would suspend new investments while determining the best way to support workers and guests at its Russia hotels. BLOOMBERG