|Hyatt seals a Regency in Sochi.|
Saturday, 17th September 2011
Source : HVS International
An affiliate of Chicago-based Hyatt Hotels Corporation has signed a management agreement with Yug – Novy Vek, a subsidiary of Russian real estate company Snegiri Development, for its first hotel in the Black Sea resort of Sochi, southwest Russia.
The Hyatt Regency Sochi is already under construction and is expected to open near the end of 2013.
Hyatt currently operates two hotels in Russia, in Moscow and Yekaterinburg.