Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Istra-Kurort LLC, a Russian real estate development company, for a Hyatt Regency hotel in Moscow.
Expected to open in 2017, Hyatt Regency Moscow Istra Resort will join the luxurious Ararat Park Hyatt Moscow already open in the city.
Located on the shores of the famous Istra Reservoir, Hyatt Regency Moscow Istra Resort will feature 168 guestrooms and 52 extended-stay apartments, as well as a conference center with a 3,760 square-foot (350-square-meter) ballroom, a spa, and a fitness center with indoor and outdoor pools. Additionally, the hotel will offer multiple food and beverage outlets, including an all-day-dining restaurant and a bar, lobby lounge and a specialty restaurant with a pristine view of the reservoir. Hyatt Regency Moscow Istra Resort is expected to become an ideal destination for social functions, weekend getaways and off-site corporate meetings for Moscovites, expatriates and Russian guests visiting the capital city.
“Establishing our brand’s presence in key gateway cities like Moscow is an integral part of our strategy to drive guest preference for Hyatt-branded hotels in Russia, a market that continues to experience strong growth in visitor numbers”“Establishing our brand’s presence in key gateway cities like Moscow is an integral part of our strategy to drive guest preference for Hyatt-branded hotels in Russia, a market that continues to experience strong growth in visitor numbers,” said Peter Norman, senior vice president, real estate and development for Hyatt Hotels & Resorts. “We are thrilled to have the opportunity for another hotel in Moscow, which will join the already open, five-star Ararat Park Hyatt Moscow and the currently under development Hyatt Regency Moscow Petrovsky Park. The development of Hyatt’s brands in Moscow and Russia and the CIS remains an absolute priority.”
“We are delighted to work with Hyatt on Hyatt Regency Moscow Istra Resort,” said Dmitry Badaev, managing director, Istra-Kurort LLC. “We believe the strength of Hyatt’s service culture and the depth of its operational expertise will bring great value to the new hotel.”
Hyatt Regency Moscow Istra Resort will join five other Hyatt-branded hotels currently under development across Russia, including: Hyatt Regency Moscow Petrovsky Park Hyatt Regency Rostov on Don Hyatt Regency Sochi Hyatt Regency Vladivostok Golden Horn Hyatt Burny Vladivostok Hyatt’s hotel pipeline is larger than it has ever been, and as of March 31, 2013, it included executed management or franchise contracts for approximately 200 hotels across all brands in all of the regions in which Hyatt hotels operate.
Istra-Kurort LLC is a part of Gleden Invest Group. Assets of the Group include: Azimut Hotels (properties range in size up to 9,000 rooms and hotels are located in Russia, Austria and Germany), Metropol Hotel 5* located in Moscow, more than 500,000 square meters of commercial real estate, and number of other assets. The Group is owned by Mr. Alexander Klyachin.
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