Armani will not build hotels in Russia

At the end of January 2011 a number Russian media reported that the famous Italian designer Giorgio Armani may open his hotel in Russia. Kavminvody were mentioned as a resort, which was supposed to host the brainchild of the legendary designer. Press also sounded the approximate cost of the hotel - 150 million euros.

Recently, the North Caucasus was in the focus of the tourist community through numerous reports on the development of the infrastructure of the Caucasian ski slopes. Today at the resorts of Adygeya, Kabardino-Balkaria and Chechnya are planned to be created five ski resorts, amounted at several hundred million dollars. This list also includes Sochi, which will be the capital of the next Winter Olympics. Thus, Caucasus becomes important for tourism in Russia and all around the world. Against this background the report on the construction of the Armani hotel had to spur more interest to the investment projects in the Caucasus.

However, it is possible that the hotel in Kavminvody is not included in the upcoming plans of Armani. According to arabianbusiness.com citing AFP, representatives of the fashion house said on February 8, 2011 that the information about the plans of Armani Group to open its hotel in the Caucasus is false.

Today in the world there is only one Armani hotel. It was opened in Dubai, in the world's tallest building - Burj Khalifa. Opening of the second hotel brand will be in Milan in mid-2011.

Among the possible cities where there might be opened new Armani hotels are Paris, New York and Marrakech. It is worth noting that the partner of Armani Group - Arab developer Emaar Hotels - in October 2010 announced about joint plans to open the third hotel. However, the place for the future hotel were not mentioned.