Accor opens a US$160-million hotel in Moscow

Accor opens a US$160-million hotel in Moscow

The world’s largest chain hotel has done it again! Accor announced early this week that it has opened a new hotel, the Novotel Moscow City, in Russia. This is the 18th hotel in the region that includes Russia and its former Soviet republics.

The project, undertaken jointly with Tashir, is worth US$160 million. Tashir is one of the largest Russian real estate developer and holding company with the diversified investor CJSC Soglasie.

By launching this multi-million dollar ultra-modern hotel, Accor said that it has reaffirmed its ambition to expand in Russia and its former Soviet republics with the ultimate goal of reaching a network of 50 hotels in the region by 2016.

“Russia and its former Soviet republics are key regions for our group’s dynamic expansion. Thanks to our strong brand portfolio from luxury to budget, our powerful distribution system and our operational excellence, we are ideally positioned to seize the opportunities of this booming market,” Accor CEO Yann Caillère said in a statement.

The Paris-based hotel group said it has plans to open new hotels in Armenia, Georgia, Kazakhstan and Kirghizstan.

(Issued by Accor, final editing by Issa Sikiti da Silva).  Photo: the majestic Novotel Moscow City in the Russian capital city

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