Armani denies plan for third hotel in Russia

Italian design house Armani Group has denied it is planning to open a third branded hotel in Russia, under a joint venture deal with Dubai’s Emaar Properties.

The design company, which launched its first branded hotel in Dubai’s Burj Khalifa in April last
year, spoke out after press reports claimed it had signed a $150m deal to open a property in the Russian resort of Stavropol.

"The Armani Group categorically states that reports of its intention to open an Armani Hotel in the Russian Caucasus are without foundation," the Italian fashion label said in a statement to newswire AFP.

Armani entered into a joint venture with Emaar Properties in 2004, before opening the Armani Hotel Dubai in the world’s tallest tower.

The venture’s second hotel, located in Milan, is on schedule to open in mid-2011. Emaar told Arabian Business in October the pair were planning a third hotel, but did not name the location.

“It’s only being designed now,” Mark Dardenne, CEO of Emaar Hotels and Resorts, said. Dardenne named Paris, New York and Marrakesh as potential locations for the property.
“These hotels you build them up over the years.”