A new hotel development in Vladivostok, Russia, has been allocated R7.5bn ($253m) by the Primorsky Territory state government.
The new development is part of the sub-programme for development of Vladivostok in which three, four and five-star hotels will be built between 2008 and 2012.
Edinburgh-based RMJM Scotland has been appointed as the architect for the development, with appraisal set for April 2010.
The project is being financed by JSC ‘Our Home is Primorye’, according to vladivostoktimes.ru.
Two new hotels in Korabelnaya Naberezhnaya and the Burniy Cape will start operations in 2011.