Italian fashion designer Giorgio Armani’s luxury hotel brand is planning to develop a hotel in Russia’s Caucasus region, a report said Friday.
Armani Hotels and Resorts, which opened its first development in Dubai last year, will launch another one in the Stavropol region’s mineral springs resort area, together with other investors, Kommersant daily reported.
Investment in the project, which is to be unveiled at the upscale MIPIM real estate show in Cannes in March, could surpass 150 million dollars, the report said.
Continue reading