MOSCOW TIME: 25.04.2024 23:31:21
German Oetker Group signed a 30-year agreement on management of Moscow hotel on the Kitaygorod Passage that will be built instead of the demolished hotel “Russia”, reported Dmitry Shumakov, the project investor, and confirmed Oetker Collection CEO Frank Marrenbach.
German Oetker Group will manage Moscow hotel in the park “Zaryadye”
German Oetker Group signed a 30-year agreement on management of Moscow hotel on the Kitaygorod Passage that will be built instead of the demolished hotel “Russia”, reported Dmitry Shumakov, the project investor, and confirmed Oetker Collection CEO Frank Marrenbach. “We signed the agreement. Oetker suggested a $1,000 average room price”, said Marrenbach. The management agreement on a 200-room hotel was concluded for a period of 30 years.
Dmitry Shumakov, co-owner of “Olimpiysky”, is the investor and the commissioner of the construction. He owns a company “Zaryadye”, which reconstructs buildings on the Kitaygorod Passage and the Varvarka Street.
German Oetker Group manages the international hotel net, including The Lanesborough in London and Bristol in Paris. The company has not yet worked in the Russian hotel market.
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