Source Pravda.Ru

SAS to Open Hotel Chain in Russia

The Rezidor hotel company, which is owned by Scandinavian airline SAS, intends to open around 50 three-star hotels in Russia over the next ten years. According to the Swedish Direkt news agency, SAS Rezidor has recently signed an agreement with Russian, Swedish and Danish investment funds on creating a joint enterprise.

In the first stage of the project the joint company will invest around USD 70 million in the construction of eight new hotels, mainly in Moscow and St. Petersburg. It is planned that the hotels will offer standard rooms at affordable prices and a fairly high level of service.

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