Hilton, Hyatt to suspend business development in Russia

US-based Hilton and Hyatt hotel chains made the decision to suspend development of their business in Russia due to the situation around Ukraine, press services of companies said.

"We have made the decision to suspend our development activities and any new investments in Russia, effective immediately," Hyatt said. "We will continue to evaluate hotel operations in Russia, while complying with applicable sanctions and U.S. government directives as we hope for a resolution to this crisis," the hotel chain added.