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Showing posts with label Giorgio Armani plans to build a hotel in Russia:. Show all posts
Showing posts with label Giorgio Armani plans to build a hotel in Russia:. Show all posts

30 Jan 2011

Giorgio Armani plans to build a hotel in Russia: Voice of Russia

Giorgio Armani plans to build a hotel in Russia: Voice of Russia: "Italian fashion designer Giorgio Armani plans to open a hotel under his name in Russia’s Caucasus region. His Armani Hotels and Resorts company, together with other investors, will launch a luxury hotel in the Stavropol region. The exact place has not been decided on yet, however reports say Armani will choose between Kislovodsk, Yessentuki or Pyatigorsk. Investment in the project is expected to surpass $150 million and will be repaid no earlier than eight years after, even taking into consideration that visitors will be charged $2,000 per day on average.

The Caucasus mountain range is famous for its mineral springs and breathtaking landscapes. The region has been known for its resorts since the 19th century. This is the only place on the planet that is home to about 130 mineral springs. However, popularity of these places has dwindled due to poorly developed infrastructure. There are not hotels and other services that would definitely fancy well-off visitors.

Armani`s project is going to be the first luxury hotel to attract both Russians and foreigners. However, it happens quite often that new ideas are opposed by skeptics. “I do not think that a luxury hotel in the Caucasus will be a success”, says Stanislav Ivashkevich, deputy director for hotel infrastructure at CB Richard Ellis."

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