Citadines, an international apart’hotel chain and member of Ascott Limited, is planning to enter the Russian market in partnership with Etalon, a local development company, RNS reports.
“Initially, the chain invested in European apart’hotels – in the UK, France and Italy. They are now considering the Moscow market. First of all, it will be an offer for business travellers who do not come to stay for only a day or two, but rather for two or three weeks. They asked us to offer them a site and act as the general contractor. We are now choosing land plots,” Etalon Vice-President Kirill Bagachenko said. In addition, Etalon will provide the Singaporean company with a site in St. Petersburg within the Galaxy residential complex, a renovation project of the Imperial railway station.
Today, Ascott manages over 30,000 apartments in 290 different locations throughout ten countries. In general, the operator manages three hotel chains – Ascott, Citadines and Somerset.