Azimuth city hotel Vladivostok

History

2024: En + Group owns Azimut City Hotel Vladivostok

In June 2024 En+ Group , the company expanded its presence in the hotel market, real estateVladivostok becoming the owner of a large hotel in the city center. A member of the group, Park Hotel Burduguz LLC acquired the Azimut Vladivostok company, which owns most of the building of the 4-star Azimut City Hotel Vladivostok Hotel. Obat became known on July 8, 2024.

According to Vedomosti, the deal included the purchase of 19,340 square meters. m from the total building area of ​ ​ 21,950 square meters. m. The remaining part of the complex, previously owned by Vostok Development LLC, also came under the control of the Burduguz Park Hotel on the same day. The hotel, located on Naberezhnaya Street in the Frunze district of Vladivostok, was opened in May 2015 after the reconstruction of the Soviet Vladivostok Hotel and at the time of opening was the largest in the city.

source = OOO AZIMUTH Wishes Company

Experts estimate the market value of the acquired object in the range from 4 to 7 billion rubles. Mikael Ghazaryan, head of the capital markets and investments department at IBC Real Estate, suggests that the cost could be 4-5 billion rubles, while Ksenia Nepomniachtchi, senior consultant at the investment and capital markets department at CORE.XP, estimates it higher - at 5-7 billion rubles.

The acquisition of the Azimut City Hotel Vladivostok is part of En + Group's strategy to strengthen its position in the Vladivostok hospitality market. In 2019, the company has already bought two unfinished hotels in the city for 3.7 billion rubles, one of which - Vladivostok Grand Hotel & SPA with 220 rooms - was opened in 2022.

The structures associated with En + Group are one of the largest players in the hotel real estate market in Russia. According to Forbes, under the management of the Legend group of companies operating under the En + Group brand, there are 22 hotels with 1687 rooms in various regions of the country. The company plans to open 50 more similar facilities^[1]

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