Rus News Journal

Vekselberg will result Park Plaza to Russia

for development of own hotel network

“ Renova - Strojgrup “ Victor Vekselberg has found the hotel operator for management of a regional network of hotels. The choice has fallen on the European brand Park Plaza under which it is planned to open within four years 15-20 hotels of a class of 3-4 stars in the largest cities of the country. Transactions on acquisition of sites ­ under first two objects should be closed already in the near future. According to the experts, the debut in the hotel market can manage “ Renove “ in 600 million dollars

GK “ Renova “ owns and operates actives in metallurgical, oil, building branches, power, in sphere of telecommunications and nanotehnology. By data for July, 1st, 2007, cost of actives of group made 17,9 mlrd dollars In structure GK the management company " enters; Renova - Strojgrup “ Which works in the market of real estate since 2005. On the beginning of 2008 in a developer ­ portfolio of the company there were projects the area over 19,8 million in sq. m. Hotel group Park Plaza Hotels is based in the Netherlands. Owns and operates hotels under brands Park Plaza Hotels and Resorts and ΐrt “ otel in the countries of Europe, Central Asia and Africa. The group includes 39 hotels with number fund more than 7,7 thousand

In release Park Plaza Hotels is informed that the arrangement on cooperation has been reached between its European division Park Plaza Hotels Europe and company Ferens Management Ltd., entering in “ Renova - Strojgrup “. The director of department of public relations “ Renova - Strojgrup “ Evgenie Krasikov has confirmed the transaction fact: “ Park Plaza will take part in our project on building of hotels of level of 3-4 stars in the European part of Russia. The company becomes the exclusive operator of this network “. By words g - on Krasikov, Park Plaza though it is known enough in the world market of the hotel industry, at our country was not present yet. “ the brand leaves to Russia through this partnership “ - the interlocutor daily has added.

He also has informed that for network development the first platforms in Moscow, St.-Petersburg, Novorossisk, Nizhni Novgorod and Ekaterinburg are chosen. “ work on them is at different stages, but on two is already close to the ending “ - explain in “ Renova - Strojgrup “. It is curious that in the beginning of 2007 “ Renova - Strojgrup “ already declared plans on building of a hotel network, however then the developer expected to erect 50 objects for ten years. As has explained g - n Krasikov, company plans have been corrected.

the first stage of the present program is calculated till 2014 and assumes building to 20 objects, including is possible redevelopment existing buildings. The network will include 3,5-4 thousand numbers, but further can be expanded. For program financing “ Renova - Strojgrup “ plans to involve the international banks and investment funds, however while abstains from an estimation of necessary investments.

experts notice that “ Renova “ has chosen not the most known hotel brand for cooperation: one year ago it was a question of attraction of such names, as Marriott and Accor. “ And there is this brand for the Russian market much later, - the operating director of company DTZ Russia Ferit Jyldyrym argues. - opening of the first object in Moscow ­ that the Russian clients have got acquainted with this brand " will be Good start­;. “ It is necessary to understand that not too much hotel operators are ready to enter the Russian market with three-stars hotels. So a choice at “ Renovy “ was small “ - the vice-president of Federation of victualers and otelerov Vadim Prasov explains.

Participants of the market estimate Expenses for building of a network in 100-150 thousand dollars on number, and this sum does not join expenses on acquisition of sites. Thus, on planned 4 thousand numbers “ Renove “ it can be necessary an order of 600 million dollars “ Thus I strongly doubt that for four years the company can construct at least declared minimum in 15 hotels. At the best the beginning hotel developer will be limited to five - seven objects “ - notices g - n Prasov.