SOCAR invests $500m in upmarket resort in Montenegro’s Boka Bay

Montenegro holiday resort: Azerbaijan’s state oil company SOCAR is investing $500m to develop an upmarket holiday resort in Montenegro’s Boca Bay…

Swissotel becomes first high-profile victim of Russian sanctions on Turkey

The five-star 234-room Turkish-owned Swissotel Krasnye Kholmyin in central Moscow has become the first high-profile of…

Free Port of Vladivostok secures first investors as Zarubino gets the OK

The Free Port of Vladivostok has attracted its first investors since it secured SEZ status this summer,  in…

Japanese group ready to invest $450m in leisure complex on Russky Island

Japan’s Iida Group Holdings is prepared to pump up  to $450m into Russky Island to develop a…

Lotte Group pledges $1bn investment in Russian retail and hotel sectors

Lotte Group, the South Korean multinational food and shopping corporation, this week pledged to invest up to $1bn…

Russia faces hotel glut after 2018 World Cup, experts fear

Russia faces hotel glut: Overseas hotel chains are planning to to double their presence in the Russian…

Donald Trump to build luxury hotel in Baku

Donald Trump, chairman and president of The Trump Organization is to build a 33-floor complex in…

Russian tourist industry feels the pain of fallout from Ukraine

Russian tourist industry: The number of foreign tourists booking in to Russian hotels dropped by 27% in…

Uzbekistan hotel construction may attract Japanese input

Uzbekistan hotel construction: There is a strong possibility that Japanese building companies might get involved in the…

Five-star Dagestan hotel complex planned by Turkish group

Five-star Dagestan hotel complex: A group of Turkish companies is planning to build a $100m, five-star hotel complex…

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…

Baku White City hotel contract goes to Arma-Electropanc

Baku White City hotel: Turkey’s AE Arma-Electropanc has been awarded a $42.5m  contract to build a 818-room…

Wanda Group chief to visit Moscow

Wanda Group: Chinese property magnate  and Wanda Group chief Wang Jianlin is due to visit Moscow this…

Caspian Sea tourism on growth curve

Caspian Sea tourism: 70% of the Caspian Sea is suitable for tourism and the Azerbaijan tourist…

Baku hotel oversupply depressing room prices

Baku hotel oversupply: A glut of  Baku hotels – particularly at the top end of the market –  has brought the…

Azerbaijan hotel capacity doubles, cultural tourism promoted

Azerbaijan hotel capacity has more than doubled over the past 10 years, according  to Azerbaijan’ tourism…