Salans Moscow and Jones Lang LaSalle Hotels have advised Nairay Holdings Limited in the first Russian hotel transaction of the year, in which the Sheremetyevo-2 Hotel was sold to Wenaas Hotel Russia AS, part of Wenaasgruppen A/S, one of the largest hotel real estate companies in Scandinavia. The newly acquired hotel will be managed by Rezidor Hotel Group under the Park Inn brand.
The Sheremetyevo-2 Hotel is located next to the newly opened Terminal D at Sheremetyevo International Airport. The hotel features a total of 293 rooms, one bar and two restaurants, as well as conference and banquet space.
Alexander Skoblo, Salans Partner and Co-Head of Global Hotel & Hospitality Practice, commented, "We are very pleased to have brought this transaction to a successful closing yesterday. It marks one of the most significant hotel transactions in the Russian Federation since the onset of the global economic crisis and shows that this sector is poised for a rebound. Coming just after the opening of the new terminal at Sheremetyevo Airport, it is one more sign of the expansion and modernization of this vital transportation hub."
Marina Usenko, Head of the Russian office Jones Lang LaSalle Hotels, said, “This transaction is a sign of renewed confidence in Moscow’s hotel market. Investors who are active in Russia continue to focus on Moscow and St. Petersburg as they are best positioned to weather the financial downturn and could recover more quickly compared to other regional markets. Moscow continues to show remarkable resilience in attracting international and domestic visitors; this was particularly noticeable in the second half of 2009 with the Moscow hotels’ occupancy rates growth. Sheremetyevo International Airport remains the major gateway for the country, offering excellent opportunities for the hotel business in the medium- to long-term.”