A hotel “Four Seasons” will open in Saint-Petersburg. It will be located at Voznesensky Prospekt in the Palace of Lobanovy and Rostovskie Dukes, more widely known as “the house with lions”, RBK Daily reports.  

Last Wednesday the hotel management company “Four Seasons Hotels and Resorts” inked an agreement with “Tristar Investment Holdings” (the subsidiary of “Venture Investments & Yield Management LLP”) on the hotel operation. The proposal was made to open the hotel in the end of 2009.

According to the chief director of “Tristar Investment Holdings” Michael Masalov the hotel will occupy 26.6 thousand m2 area. It will total 183 rooms and feature 2 restaurants and 4 storey spa complex. The investment will amount to $135 million. The payback period is expected to be 5-7 years.

The holding is also going to borrow credit of the finance corporation “Uralsib”, Masalov said in statement.   

Source: www.g2p.ru