Developer InrusInvest, and Cushman & Wakefield, project consultants, have released information regarding a new hotel development for the city of Novokuznetsk.
The 150-room hotel will be situated in the center of Novokuznetsk on Ermakova street, d. 1A within a park zone. The total area of the hotel will be 10,000 m² and a letter of intent for hotel management is signed with the Rezidor chain for their Park Inn brand. The main management agreement is to be signed by the end of the year.
Cushman & Wakefield provided the full range of consulting services from feasibility study to hotel operator search.
Construction will commence at the beginning of 2012 with grand opening scheduled for 2014. Investment into the project will total approximately US $30 million (approx. 22 million).
"With a site in the very center of the city and an ambitious investor we were delighted that Rezidor won the tender to manage the hotel under their Park Inn brand, said David Jenkins, Head of Hospitality for Cushman & Wakefield.
"The entire process from feasibility study through to securing the operator took less than four months. This will be the main hotel in Novokuznetsk, a city with a strong economy yet a lack of quality accommodation."
Evgeny Zenin, General Manager at InrusInvest commented: "We are glad, that with the help of Cushman & Wakefield the hotel will be operated by very well-known international company. I am convinced that Rezidor will provide high standards of operation which will increase the capital value of the project."
Source: Cushman & Wakefield