Shura Has New Projects

RGI shareholder Pyotr Shura's Zolotoye Koltso development company has reached an agreement with Wyndham Hotels and Resorts for the construction of a Ramada Inn and Days Inn & Suites in the Zolotoye Koltso resort complex now being developed in the historical city of Pereslavl-Zalessky, Vedomosti reported.

The company is also building a 130-room Hyatt Place hotel in Yaroslavl. Shura plans to open more than 3,000 rooms and 2,500 cottages at 50 sites in 18 historic cities of Central Russia. He has invested about 1.2 billion rubles ($40 million) in the company, and it has received a loan of 1.3 billion rubles from Vneshekonombank.

(MT, Vedomosti)

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