3 Jun '08
A source at Russia’s developer Zheldoripoteka has unveiled the company’s plans to invest $225m in the construction of a three-star 150-200 room hotel network at railway stations.
First hotels will be built in Sochi, Samara, Chelyabinsk, Ekaterinburg, Surgut, Astrakhan, and Yaroslavl. Moscow’s Regional Hotel Chains has been awarded a construction management contract.
The hotel chain is the first major project of Zheldoripoteka, a subsidiary of the Russian Railways, in commercial real estate.