The European Bank for Reconstruction of Development (EBRD) said that it will fund the construction of five mid-market hotels in the Russian cities of Samara, Krasnoyarsk, Kaliningrad and Yaroslavl. The properties, offering a total of 897 rooms, will be developed by Russian Hotel Investment, a limited liability company incorporated in the Netherlands. It is owned by Turkey's Akfen Holding and the principals of Kayi and Insa Groups.
Premium subscriber content – please log in to read more or take a free trial.
