HVS Hodges Ward Elliott advised Regional Hotel Chain LLC (RHC) on the selection of their partner in the development of mid-scale hotels across the Russian Federation.
RHC has signed a Strategic Development Agreement with the Rezidor Hotel Group and has concluded management agreements for two Park Inn properties in Astrakhan (132 rooms) and Kazan (145 rooms). Openings for these properties, already at an advanced stage of construction, are scheduled for 2010.
RHC plans to have 20 properties in operation by 2012 and potentially as many as 50 by 2014. The sites of 10 Park Inn hotels have been already identified across the Russian Federation, with another 10 sites under review.
RHC is developing the project in partnership with Zheldorhypoteka and RWM-Capital, who has the rights for any developments of Russian Railways owned land.
Charles RG Human
+44 20 7257-2001