Russian billionaire Vladimir Potanin’s Interros Holding and its partner Vasta Discovery will invest $1 billion in a new Sochi resort.
An investment project by Green Flow Baikal, LLC at Lake Baikal moves forward for the construction of a 4-star resort.
The Mayor of Sochi told reporters this week, 2016 promises the resort near full occupancy. At a session of the public coucil, Anatoly Pakhomov said the resort town will see upwards of 96% occupancy in 2016.
News from Sochi, Russia tells of the people there kicking off a festival starting the official Spring Labor Day festivities. Held outside the city’s Winter Theater, the fest symbolizes renewed spirit of this famous Russian resort town.
According to a report from The Moscow Times, North Caucasus Resorts has had to appoint an interim CEO due to the previous boss having to resign on account of health reasons. The project set to develop tourism in the region has had some conflicts of late.