Bulgari, an Italian producer of luxury goods, intends to build a luxurious hotel in Moscow as part of the company’s brand.
According to the Vedomosti newspaper, Alexey Bogachev, a businessman, will invest in the hotel’s construction.
The construction site is expected to be situated in the center of Moscow, between Bolshaya Nikitskaya Street and Sredniy Kislovskiy Side-street.
Simultaneously, Bulgari will open a new shop at Kuznetsky Most, 7. At first, it was scheduled to be opened in GUM before the end of 2015. The total amount of the Italian company’s investments in Moscow businesses is $200m.
Apart from luxury goods production, the Italian Bulgari company owns a network of luxury-class hotels managed by Marriott International.