Sistema PJSFC: Sistema Group to double its hospitality business
The Transaction is expected to be completed by the end of 1Q 2023 subject to obtaining of all necessary regulatory approvals.
- The Transaction is expected to be completed by the end of 1Q 2023 subject to obtaining of all necessary regulatory approvals.
- “The hotels of Wenaas Hotel Russia AS represent a diversified portfolio of hospitality assets.
- The acquisition of these hotels that meet high standards of service and quality will enable Cosmos Hotel Group to double its number of rooms and considerably bolster its position in Russia’s hospitality market.
- In 2021, the hotels’ revenue totalled RUB 4.3 billion; in 2019, prior to the pandemic, it was RUB 6.2 billion.