September 26, 2018 / 11:50 AM / 21 days ago

Mandarin Oriental signs first Russia hotel deal

MOSCOW, Sept 26 (Reuters) - Singapore-listed Mandarin Oriental International Ltd said on Wednesday it would manage a luxury hotel and residential complex in Moscow, its first deal in Russia.

The company, controlled by Jardine Matheson Holdings , partnered with Russian real estate developer Capital Group for a project facing the Kremlin.

“Russia has been on (our) top priority list for over two decades,” Paul Massot, development director at Mandarin Oriental Hotel Group, said at a news conference in Moscow.

The property, which is expected to open in 2021, will feature 65 guestrooms and suites, 137 residences as well as restaurants and wellness facilities.

Massot told Reuters the company could take on a second hotel project in Moscow in coming years and that it was also interested in the St Petersburg market. (Reporting by Olga Sichkar Writing by Maria Kiselyova Editing by Alexander Smith)

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