The Britain investment fund “London & Regional Properties” (L&RP), which presents “Hilton” hotels in Russia, will put approximately $230 million to the construction of the new business centers and hotels in Rostov-on-Don, Omsk, and Kazan, David Geovanis, managing director of the company, reported.
 
The investments to hotels in Omsk (4 star hotel), Rostov-on-Don (5 star hotel) amount to $200 million.  Business center in Kazan will be smaller in size; $30 million will be put into its construction.
 
The construction will start in the end of 2008 and continue for 3 years.

According to Geovanis, the fund is planning to build Hilton hotels and business centers in all major Russian cities.

In 2007 Hilton signed an agreement with L&RP under which the companies pledged to open 25 new hotels over a period of 5-7 years.

L&RP presents Hilton in Russia. The company owns large real estate holdings totaling $10 billion all over the world. The company’s expansion to Russia started 3 years ago. Approximately $1 billion was put into hotel construction over the last 3 years.

Full story: РБК