Accor celebrated today the opening of the Novotel Moscow City, its 5th hotel in Moscow and its 16th in Russia. The hotel, which is one of the most modern in Russia and currently the first and only hotel in Moscow's international business center Moscow City, is a co-project with Tashir, one of the largest Russian real estate developer and holding company and with the diversified investor CJSC Soglasie. Total investment made by the two partners amounted to $160 M. Accor operates the hotel under a long term management contract.
Accor Chief Executive Officer. "Our ambition is to reach a network of 50 hotels in Russia & CIS by 2016. We are developing all our brands, including on the upscale segment with the launch of our Pullman brand before the end of the year. We plan to open hotels in new countries such as Armenia, Georgia, Kazakhstan and Kirghizstan", he added.