South West | Tourism, recreation

Seagate to build $38m hotel and yacht-club in Gelendzhik

14 Aug '09
Moscow developer Seagate intends to build a hotel and a yacht-club in the city of Gelendzhik, Krasnodar region, Kommersant reports.

Investment in the project has yet to be disclosed, however experts estimate investment in the hotel at $38m.

Under the project, the company is to build a five-star hotel and a yacht-club for 40 yachts on a 9.3-hectare land site, purchased earlier.

Timeframes for the project have yet to be disclosed.
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