Hyatt Hotels Corp. just announced a joint venture with real estate conglomerate Yug – Novy Vek (Sneriri) Development, for the management of Hyatt Regency Sochi, being built for the 2014 Olympics in the Russian Federation. The seaside resort hotel will feature some 200 rooms, 26 suites, restaurants, a bar, pool, and other amenties customary for Hyatt offerings.
Located in the city center, the hotel will be part of a community rapidly becoming Russia’s largest seaside, health and holiday resort destination. Peter Norman, Senior VP for real estate and development at Hyatt, had this to say about the deal:
“Hyatt Regency Sochi represents a key opportunity to increase preference for Hyatt’s brands in one of Russia’s top tourist destinations. While the 2014 Games have heightened Sochi’s profile, it has long been a popular destination for travelers in the region. Hyatt’s Regency Sochi will join other Hyatt hotel’s in Russia, which include Ararat Park Hyatt Moscow and Hyatt Regency Ekaterinburg.”
Located virtually around the world, Hyatt Regency Hotels accomodate the spectrum of hospitality offerings. The brand of Hyatt is synonymous everywhere with quality and value. As for Snegiri Development, the company has completed 19 projects in Moscow and Russia’s other regional locations, and the group now has over 1,000,000 square meters of real estate under development. Sergey Demin, CEO of the company added this:
“Hyatt Regency Sochi is a priority project for us, and we have engaged the best architects and designers from the Scottish architectural firm RMJM and the French interior designer Valode & Pistre. We have also engaged Rasen Construction, a leading Turkish contractor, for construction of this complex and unique project. We are confident that Hyatt Regency Sochi will become the center of resort life in Sochi and the premier 5-star hotel in all of the famous Black Sea Riviera.”
For more information about this development, please visit the Hyatt links above, or consult their original press release here. Investors and hotelliers may want to view the Hyatt Hotels developments sheet also (PDF). We leave you with one of Hyatt’s fine Regency hotel offerings, as a preview to Sochi. The Hyatt Regency Sharm El Sheikh, offers the same leading edge amenities the world has come to expect from Hyatt. Enjoy, and dream.