Moscow’s Transstroybank in the near future plans to build 20 hotels across Russia

Author: Irina Kozlova Section: Hotels & Restaurants Guide

Issue: March 2012, Vol. 7, No.3

Tags: Hotel industry

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Diversification of Business

Speaking in February at the opening ceremony of the Courtyard Marriott Hotel in Irkutsk, Transstroybank President Petr Chitipakhovian said he plans to build up to 20 hotels across Russia in cooperation with the Marriott chain.

The bank is the owner and co-investor in the 208-room Irkutsk hotel that was built at the cost of 45mln euros. Austrian Erste bank also helped bankroll the project. “We intend to open about 3-4 hotels per year. For example, in 2012, we plan to begin the construction of hotels in Nizhny Novgorod and Omsk, and later in Kemerovo, Rostov, Almetyevsk and Nizhnekamsk,” he said.