The group has signed an agreement for the Aloft St Petersburg, which is due to open in 2015 in the north of the city, overlooking the River Neva.

The hotel is owned by Remstroyintour LLC and Ludmila Kudryavtesva. Starwood currently operates three hotels in Russia (two in Moscow and one in St Petersburg) and two in the CIS (in Ukraine and Azerbaijan), but this week the group has announced plans for its expansion in the region.

Over the next three years Starwood aims to more than double its portfolio in Russia and the CIS, with its Sheraton brand playing a key role.

“As one of the world’s fastest-growing outbound travel markets, Russia represents a great opportunity for us. With a rising middle class, growing disposable income, an affinity for luxury brands and huge pent-up demand for foreign travel, Russia is emblematic of the growth we are seeing in regions around the world and key to our global growth plans,” said Starwood’s president and chief executive officer, Frits van Paasschen.

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