IHI plc, owners of the Corinthia Hotels Group, announces a luxury Corinthia Hotel & Residences project in Moscow.
IHI is acquiring a minority share in a company being formed with a consortium of investors to acquire a landmark property at 10 Tverskaya, Moscow’s principal avenue leading onto the Kremlin and Red Square. The property has a listed façade, and houses the famous 19th century Filippov Bakery, but permits in hand allow up to 462,800 ft2 of development behind the retained frontage. The consortium has plans to create a luxury Corinthia Hotel and branded serviced apartments for sale. An element of high-end retail will be featured alongside Tverskaya.
IHI plc has had a presence in Russia since 2002, when the company acquired and later redeveloped five historic properties on the main boulevard in St Petersburg, where the company now owns the Corinthia Hotel St Petersburg, the Nevskij Plaza Retail and Commercial Center as well as other commercial property.
Corinthia CEO Simon Naudi said: “We are very pleased to announce our second hotel and residences in the Russian Federation. Our Moscow project will consolidate our Brand’s positioning at the top end of the Russian luxury hotel market."
Corinthia Hotels is a global collection of luxury and five-star hotels founded in Malta in 1962. Since 2000, Corinthia Hotels is organised as the core business of a multifaceted public company, trading as International Hotel Investments (IHI) plc, which is the owner, developer and operator of Corinthia Hotels and commercial real estate worldwide. The Corinthia Hotels portfolio features the flagship Corinthia Hotel in London, as well as award-winning Corinthia Hotels in Budapest, Malta, St Petersburg, Prague, Lisbon, Khartoum and Tripoli. Corinthia is currently redeveloping the Grand Hotel du Boulevard in Bucharest (opening in 2020), and the landmark Grand Hotel Astoria in Brussels (opening in 2021), as well as a new luxury beach resort under construction by the Meydan Group in Dubai, to be known as the Corinthia at Meydan Beach, due to open in 2019.
For further information on IHI plc, please visit ihiplc.com
