The Russian ski-resort town is being courted by the hospitality industry as we get closer to the 2014 winter Olympics. Furthermore, city is set to host the F1 calendar’s first Russian round in 2014.
Interstate has six management contracts in Sochi, and both Swissôtel and Rezidor opened new locations there.Besides France’s Caisse des Depots, other European companies are also participating in the project, such as Drees & Sommer AG from Stuttgart, Germany.Extreme Hotels (a hotel brand and management company) and “Rosa Khutor” Ski Resort Development Company LLC (a part of ProfEstate), a Russian property developers, have recently announced the launch of an Extreme Hotel in Sochi and the signing of a 10 year management contract. The 209 bedroom Extreme Hotel will open in early 2015. A partnership is going to be signed by Russia’s state-owned Northern Caucasus Resorts Co. and France’s Caisse des Depots (Bordeaux) to build ski resorts in Sochi. Top Russian officials are creating a $15 billion development around the town, and Russian President Dmitri Medvedev even offered a state guarantee on 70% of the loans for the creation of five ski resorts in Sochi.Besides France’s Caisse des Depots, other European companies are also participating in the project, such as Drees & Sommer AG from Stuttgart, Germany.
