The owner of the company “Inteko-Agro” Victor Baturin is going to invest more than $74 million, revenue collected from the hotels in Sochi and Belgorod, to European hotel business, Kommersant reports.

The first hotel of Baturin in Europe is the 4 star hotel totaling 180 rooms located nearby the city of Savonlinna in the east of Finland.  According to Baturin the hotel will open after reconstruction in the end of 2008. He bought this hotel where the film “Peculiarities of Russian fishing” was shot, in 2004.     

The businessman is also going to process the transaction on a 3 star hotel totaling 35 rooms situated between Nice and Cannes. According to analysts the sum of the deal will amount to €35 million.

Baturin is also going to carry on tourism business in Great Britain and Switzerland.

“I am going to develop landscape projects in one of the old villages of Scotland and buy mountain resort in Saint Moritz". Investment will amount to €25 million.  

Source: prodevelopment.ru