Ivanovo Russia Hyatt Hotel
Hyatt Regency Moscow will join the list of the world's first Hyatt branded hotels in the Russian capital. RussiaConstruction.com reports that the hotel is to open sometime in May or June of this year, according to the website Russia Construction.com, citing sources close to the project as well as a number of other sources within the industry. While the hotel is expected to open in the first quarter of next year for $1.2 billion, Russian officials say it is in fact close to opening.
In addition to the hotel, the Arena Park project would provide guests with access to a variety of restaurants, bars, shops, restaurants and other amenities, as well as a number of hotels. The 297-room hotel would include a restaurant, hotel bar, hotel rooms and a fitness center. Join our panel of experts focused on getting back to profitability and join us as we do everything we can to prepare you for a successful 2021!
Hyatt Hotels Corp. first announced in 2012 that it would run the Hyatt Regency Moscow. At that time, the hotel was planned to be located on the site of Dynamo Moscow's football stadium, which also includes Arena Park, a multi-purpose stadium for football and other sporting events. Modern Russia interviewed the executive vice president and chief executive Alexei Kuznetsov and the general manager Alexander Kudrin about the Hyatt regency in Moscow at the end of 2012.
The project was reportedly partly financed by VTB from a group of European banks set up in 2012, provided by the Italian export credit agency SACE, which is supported by the group's European banks. Western companies that work with these companies were not affected, however, because the US has no sanctions against V-TB, as the Wall Street Journal pointed out. Russian entities, though the scope of sanctions is smaller than the full sanctions that would prevent US companies from cooperating directly with them. In the case of VGBT, "the sanctions imposed prohibit only transactions that provide new equity or debt for more than 30 days, prohibit the issuance of new shares, bonds or other financial instruments for financing purposes, and prohibit only transactions that provide new shares and / or new debt for less than $100,000 per day," according to the New York Times.