The hotel operation of famed designer Giorgio Armani has established a Russia division, and the project manager is scouting the North Caucasus region to launch a new Armani hotel.
Armani Hotels Caucasus is targeting the resort towns around Mineralniye Vody, a mountainous region that Russian officials believe holds considerable tourism potential.
Vasily Solovyov, project manager for the newly created Armani Hotels Caucasus company, says a 100-key hotel could be built in one of the area’s spa villages. The hotel would cost about US$150 million to build and would charge rates of US$2,000 per night, RIA Novosti reports.