Wenaasgruppen

History

2023: Transfer of hotels in Russia to the ownership of AFK Sistema

On February 1, 2023, AFK Sistema announced the purchase of ten hotels located in four cities of Russia from the Norwegian company Wenaasgruppen. The transaction will cost up to 203 million euros, but the final amount will be determined taking into account the balances of cash in the accounts of companies at the closing date of the transaction, the report said. This amount includes a ten percent so-called voluntary contribution to the Russian budget, which now must be paid by foreign sellers from transactions to sell their assets in Russia. That is, up to €20.3 million will be transferred to the budget.

In the perimeter of the transaction (it is planned to close in the first quarter of 2023) St. Petersburg вошли шесть отелей Wenaas Hotel Russia в (Park Inn by Radisson Pribaltiyskaya, Park Inn by Radisson Pulkovskaya, Park Inn by Radisson Nevsky, Radisson Blu Royal Hotel, Park Inn By Radisson Pulkovo, Olympia Garden Hotel), two - To Moscow in (, Park Inn by Radisson Sheremetyevo Radisson Blu Sheremetyevo Airport), one each - Murmansk Yekaterinburg in (Park Inn by Radisson Murmansk) и в (Park Inn by Radisson Ekaterinburg). The total number of hotels is 4,078 units, the total area of ​ ​ hotels is 264.1 thousand square meters. m. In 2021, the total revenue of hotels amounted to 4.3 billion, in rubles 2019 - 6.2 billion rubles. The total net debt of the acquired assets by the beginning of February 2023 is negative.

Park Inn by Radisson Hotel in Saint Petersburg

These are hotels that meet high standards of service and quality, the acquisition of which will allow Cosmos Hotel Group to double its room capacity and significantly strengthen its position in the hotel services market in Russia, "said Alexander Biba, President of Cosmos Hotel Group.

According to him, in 2023, as a result of the deal with Wenaas Hotel Russia, the number of rooms of the Cosmos Hotel network will be more than 9,500 rooms.^[1]

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