Jumeirah Group to open first hotel in Russia by 2016
ST. PETERSBURG. Oct 31 (Interfax) - International hotel operator Jumeirah Group, which is headquartered in Dubai and is a member of Dubai Holding, together with LLC IFG Basis Project, will by 2016 open the first Russian hotel in the chain in St. Petersburg, a spokesman for the LLC, German Aksimovich, told Interfax Thursday.
Investment is estimated at $90 million, of which $40 million will be spent on restoration work. The design of the project intents to maintain all the key elements of the original building, especially the facade and marble floors.
Jumeirah Group told Interfax the operator signed a hotel management agreement with LLC IFG Basis Project.
Jumeirah Group said the hotel would be at 7-9 Nevsky Prospekt at the Vavelberg House, the former Trade Bank building. The hotel will have 74 rooms, including 18 luxury rooms. The hotel will also have three restaurants, a bar, a spa, a hydro-massage pool on the roof, a conference center and boutiques.
St. Petersburg administration in 2010 gave IFG Basis Project permission to restore Vavleberg House and turn it into a hotel.
Jumeirah Group manages 22 hotels, resorts and luxury apartments. It has 11 facilities in the Persian Gulf, six in Europe and 5 in Asia. It also has 15 projects under construction.
The SPARK Interfax database shows that IFC Basis Project belongs to LLC Innovative Development Company, which is owned by Cyprus-based Wellinom Investments Limited and Wellinom Properties Limited, registered in the British Virgin Islands.