The co-owners of "G. M. R. Hospitality Planet" have started their new hotel project. Chains of hotels, hostels and motels will become part of the "Hospitality Planet" business, which is now developing several restaurant concepts, as co-owner of the company Merab Elashvili told Interfax.
Elashvili spoke about plans to invest $100 million in the hotel business in 2012. In the same year, he joined the founders of the Bear Hostels network (a network of three hostels in Moscow created by Daniel Mishin in 2009), and in 2013 became a senior partner of the Privet Hostel network (Mishin also became a managing partner of the network).
The presentation of the network’s first hostel, opened in Moscow in March 2014, took place on Tuesday. Dan Mishin said at the presentation that the plans include the opening of 20 hostels for 6,000 people in 10 cities in Russia. In addition, it plans to create a network of 50+ three-star hotels with 150 rooms each, 7,500 rooms in total.
Furthermore, the co-owners of the "Hospitality Planet" and their partners will develop a network of fifty roadside complexes/motels for 1,500 rooms. Investment in the development of the hotel business will amount to about 3 billion Rubles, he said.
Elashvili said a network of hotels, hostels and motels is planned to be ready by 2018, when Russia will host the World Cup.
"Hospitality Planet" operates more than 300 restaurants. The company operates the restaurant chains "Sbarro", "Oriental Bazaar", "Viaggio", "Kofesto", "Bash na Bash", Yamkee, "Elki-Palki" and "Little Japan". The company's restaurants operate in Russia, as well as in Moldova, Azerbaijan, the Czech Republic and Slovakia. In addition, Planet of Hospitality operates restaurants cooking shops and food outlets at airports and train stations.
The co-owners of "Hospitality Planet" are Merab, Georgy Elashvili and Roman Shamir. The company does not disclose its revenue. In 2013 revenue growth was about 12% according to Merab Elashvili. Growth slowed in 2014, after the first six months it was 5-10%, depending on the network.