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Dutch group signs deal with Moscow company
Golden Tulip Hospitality Group has signed a deal with a Moscow-based hotel company to move into Russia.
The Dutch hotel chain's agreement is with IFK Hotel Management, a hotel management company.
Under the deal, IFK will be Tulip's official representative in Russia and market its brands including Golden Tulip and Royal Tulip.
Tulip, whose head office is in Switzerland, has 780 hotels in more than 50 countries around the world.
This is its first move into the Russian region.
Hans Kennedie, Tulip's president and ceo, said: "We are very pleased to announce Golden Tulip's first entry into the Russian Federation and the co-operation with IFK Hotel Management.
"The years of experience on the Russian hospitality market of Mr. Izmaylov and his management team will be of high value for the global development of the Golden Tulip portfolio."
Marsel Izmaylov, IFK's ceo, said: "Golden Tulip's brand recognition and its proven success track record gives us the necessary tools to develop new projects in this region.
"I am delighted to be a partner of Golden Tulip Hospitality Group and intend to put Golden Tulip's brand into leadership positions in the Russian market."