Sistema buys 9 Radisson hotels, 1 Olympia Garden hotel in Russia

MOSCOW, Mar 9 (PRIME) -- Cosmos Hotel Group, a subsidiary of Russian multi-industry holding Sistema, has closed the acquisition of nine Radisson hotels, including Park Inn by Radisson, Radisson Blu, Radisson Blu Royal, and one Olympia Garden hotel from Norway’s Wenaas Hotel Russia AS for 200 million euros, Sistema said in a statement on Thursday.

The hotels are located in St. Petersburg, Moscow, Murmansk, and Yekaterinburg, and their combined revenue amounted to 4.3 billion rubles in 2021 and to 6.2 billion rubles in the pre-pandemic year of 2019.

(75.4577 rubles – U.S. $1)

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