Planet Hospitality launches $300m World Cup project

Planet Hospitality has launched a $300 million project to set up a chain of hotels and motels to provide accommodation for more than 14,000 of the million football fans expected to descend on Russia for the 2018 World Cup. Planet Hospitality – which is co-owned by the so-called King of Franchising Merab Elashvili – plans to open a total of 20 hostels with space for a total of 6,000 people, 50 three-star hotels with 7,000 spaces, and 50 motels with 1,500 rooms, and is looking to attract $200m in outside investment. The Moscow Times