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The Park Plaza Company has lately signed a treaty enabling it to manage 20 hotels that are to be built in Russia by 2012. The hotels will be erected by the Ferens Management Limited company which is controlled by «Renova Stroygroup». The aggregate room fund of the hotels will total up to 3500-4000 guest rooms. The general investment bulk is about $800 mln. The role of the investor will be played by the «Renoca Stroygroup» company who is going to attract international funds and banks.
The Park Plaza Hotels will appear in big Russian cities with the population over 500 000 people and first of all in the cities most popular with business tourists – Moscow, Saint Petersburg, Yekaterinburg, Tchelyabinsk, Nizhniy Novgorod and Novorossiysk.
The hotels will be opened both in the objects that already exist and in the edifices built by the developer. These will be hotels of the medium and higher class (3-4 stars).
The Park Plaza Hotels chain is based in the Netherlands and is part of the Carlson Hotels Worldwide group (9th largest hotel corporation in the world). The chain counts 39 hotels in Europe, Northern Africa and the Middle East. The overall capacity of the hotels is 7700 rooms and suites. The accommodation rate in a standard Park Plaza room in Berlin amounts to 60-90 Euro per night, while in London – to 120-150 pounds. Despite the hotel being quite well-known on the world market, The Park Plaza company has not been present on the Russian market yet. The signed contract is expected to enable the company to further develop its brand in Russia.
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Cosmos
President
