Russia to get Armani hotel
Posted: Wed 2 Feb, 2011 11:12 AM
The investment firm of Italian designer Giorgio Armani, Giorgio Armani SpA, is set to build a US$150-million, 100-room designer hotel in the south of Russia.
The proposed designer hotel will charge US$2,000 a night and is expected to break even in eight years. Vasily Solovyov, head, Armani Hotels Caucasus project, was quoted in Tour Expi as having said that the hotel s size would exceed 30,000-square feet and would be located in Russia s Stavropol region.
Giorgio Armani SpA. opened its first 160-room hotel in Dubai in 2010.
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