Russian entrepreneur Telman Ismailov has unveiled plans to build the largest hotel complex in Sochi, southern Russia.
The $1bn hotel will be built ahead of the 2014 Olympic Winter Games.
The 5,500-room project will be built on a 24.6ha site and is being delivered by Ismailov’s AST Group.
AST Group is also planning to build a 150-room hotel in the Imeretinskaya valley near Sochi on a 0.98 hectare site.
Both the hotels will be in operation by June 2013, according to Vedomosti business daily.