The authorities of the Primorsky region of Russia plan to sell one of the two partially constructed 5-stars Hyatt hotels in Vladivostok for no less than 8,5 bln roubles.
This is what a director of the Department for Land and Property Relations of Primorye, Natalia Sokolova, said at a session of the Fiscal Policy Committee of the regional parliament.
The lot includes a building of Hyatt Vladivostok Hotel, which is completed by 72%, and a day spa facility, completed by 52%.
The tender will be carried out in the form of a so-called “Dutch auction”, by decreasing the initial price, which will approximately amount to 8,505,312,000 roubles. The minimal price is 5,9 bln roubles.
Hyatt Hotels Corporation – is the US corporation managing a hotel chain in 50 countries.
