Dutch investor to build hotel in Minsk

Minsk City Hall has signed an investment agreement with a company, which is based in the Netherlands, to build a hotel complex in Minsk. The investments are estimated at about $60 million.

The document was signed by Minsk Mayor Nikolai Ladutko and Marcel Benhamou, Founder and President of the company Blue Eagle Private Equity B.V. on 7 April.

The future four or five star hotel will be located at the crossing of Kirov Street and Lenin Street. It will be built by the 2014 World Ice Hockey Championship.

In November 2010 Minsk City Hall and the Dutch company signed a memorandum of understanding at the Belarusian Investment Forum in Frankfurt am Main in Germany. The memorandum laid down the intention of the Dutch company to build three hotels in Minsk (three star, four star and five star hotels).

When the investment contract was signed, the Minsk Mayor said that a lot had been done to put together the document that takes into account interests of the investor in full. Nikolai Ladutko believes that the future hotel’s location is convenient.

Marcel Benhamou stressed that he had familiarized himself with Belarus for one year before signing the contract in order to determine the future strategy. He believes that the investment contract the sides signed on 7 April is interesting and serious. “Many competitors would envy me today when the investment contract was signed,” he said.

Marcel Benhamou said that his company plans to build a network of seven hotels in Minsk and oblast capitals of the country. It is a huge project for Belarus, he said.

“Our priority task is to open the hotels by 2014 and we hope that we will manage to do it with the aid of the city administration and major hotel management brands,” said Marcel Benhamou. “We would like to open three hotels before the 2014 World Ice Hockey Championship. It is the optimal variant we count on”.

Marcel Benhamou said that an exclusive agreement with the international brand Hilton had been signed on that day. Hilton will be the company to run the hotels in Belarus. 

The hotel construction project provides for building a hotel complex that will include non-food stores, public catering facilities. The project also provides for territory accomplishment.

The project will increase the volume of provided tourism and hotel services, will improve the architectural and aesthetical outlook of the area and will create additional infrastructure. There are plans to create about 200 jobs.

According to www.belta.by