Jumeirah 'wins deal' to run for Moscow hotel

Dubai's Jumeirah Group has won a contract to manage the Tsarev Sad apartment hotel near the Moscow Kremlin, it has been reported.

According to Russian newspaper Vedomosti, the hospitality firm which counts the Burj Al Arab hotel in Dubai among its portfolio will run the hotel which is part of a major construction project in the capital.

The report cited unidentified people familiar with the matter, adding that Sberbank Capital, a unit of Sberbank, Russia’s largest lender, and its partner Midland Development, plan to invest about $300m to build 72,000 sqm of apartments and offices at Tsarev Sad.

The multifunctional complex started in the late 1990s but has previously been dogged by funding problems.

The hotel group currently operates properties in Abu Dhabi, Dubai, Frankfurt, Istanbul, London, Maldives, Mallorca, Rome and Shanghai.

Jumeirah Restaurants, a division of the hotel group, last year said it has signed a licence agreement with Ingeo Limited to open eight restaurants in Moscow.