Sistema to build at least 10 4-star hotels until end of 2022

MOSCOW, Feb 14 (PRIME) -- Russian multi-industry holding Sistema has started construction of a network of 4-star business hotels and plans to build at least 10 hotels until the end of 2022, a Sistema spokesperson told PRIME on Friday.

“Until the end of 2022, at least 10 new hotels of the mid-range segment will be built in the Russian cities that are the largest economic centers of the country. The combined area of the new hotels will exceed 200,000 square meters, and the number of suites will exceed 4,000,” the spokesperson said.

The hotels will operate under the Cosmos brand, and Sistema’s unit Cosmos Hotel Group will manage them. The company plans to build the hotels in Moscow, St. Petersburg, Yekaterinburg, Krasnodar, Omsk, Rostov-on-Don, Stavropol, Segezha, and others.

Sistema will implement the project together with equity and financial partners, and it will construct the hotels under the public-private partnership program.

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