Russian entrepreneur Telman Ismailov has unveiled plans to build the largest hotel complex in Sochi, southern Russia.
The RUR31mn ($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 also plans to build a 150-room hotel in the Imeretinskaya valley near Sochi on a 0.98ha site.
Both hotels will be operational by June 2013, according to Vedomosti.