The investments to the hotels (buying and reconstruction) are more than $ 20 million. The source is the inner company funds.
As informed Ekaterina Garanina the Head Developing Department of AMAKS, the company is buying the hotels (having more than 100 rooms) in the cities of the European part of Russia. AMAKS prefers to acquire problem hotels and to change the management and reconstruct them up to 3–4 stars level.
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Garanina claims that the investments to the hotels (buying and reconstruction) are more than $ 20 million. The source is the inner company funds. The average price for a hotel is estimated to be $ 3 million, and maximum price is $ 8 million.
AMAKS Grand Hotels is a Russian hotel net, established in 2004 orientated to build a national hotel brand in the 3–4 stars segment. AMAKS is managing 14 hotel in Perm, Velikiy Novgorod, Ufa, Belgorod, Voronezh, Kurgan, Rostov
-na-Donu and Azov.
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