DUSHANBE, March 1, Asia-Plus — The official opening of the Hyatt Regency Hotel scheduled for June ha been postponed until August, Asia-Plus has learned at Asia Hotel Management Company.
The source at Asia Hotel Management said that postponement had resulted from delays connected with “administrative issues and delivery of materials.” According to him, all building materials are delivered from abroad and execution of documents and other issues take taken a certain time. “Moreover, meeting compliance with requirements of Hyatt demands special approach that also needs more time,” the source said.
We will recall that construction of the Hyatt Regency Hotel in Dushanbe officially commenced on March 1, 2006. Russian Hotels company has invested in the construction of this five-star hotel for the international operator Hyatt. The estimated budget for construction of the hotel is $100 million.
Russian Hotels company was established in September 2004 in order to carry out management of investment projects on the commercial real estate market. Main directions of the company’s activities are – creation of new objects of commercial real estate (hotels, business centers) in Russian regions and CIS countries (from real estate development to transfer of a ready object for administration by specialized companies); attraction of capital for implementation of investment into the commercial real estate; hotel business; trust management of the attracted capital; ensuring effective asset management; and receiving of the maximum return on investment.
The goal of the Russian Hotels company is to create liquid commercial real estate objects and establish a system of their successful management. The company is focused on a long-term perspective in development of business projects and views construction of hotels and business centers as a highly-profitable business and one of the most effective ways of investing money into an actively developing field of economy – hospitality and business cooperation industry. The priority area for Russian Hotels development is construction of VIP-class hotels.
