The agreement for 15 new hotels (with a total of approximately 3,500-4,000 rooms) in Russia was entered into on 17 April with Ferens Management Limited (Ferens) who will develop a chain of Park Plaza branded hotels which will be operated by Park Plaza Hotels under 20-year management contracts.  

Park Plaza Hotels will provide technical services to Ferens, including assisting in the identification and planning of the new hotels which are due for completion by 2012.  

The hotels will be located in major Russian cities, with populations of more than 500,000, and hotels are planned for several of Russia's principal business travel destinations, including Moscow and St Petersburg.  Ferens is part of the Renova Stroygroup, one of Russia's leading development companies.

Park Plaza Hotels offers one of the most flexible models in the management, franchise and development market today with two brands - Park Plaza Hotels & Resorts and art'otel - providing affordable luxury to the discerning needs of the modern-day business and leisure traveller.