>City Hall Opens New Hotel Chain With Billionaire

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>Gostinichnaya Kompania, or GK, owned by billionaire Ronald Lauder and City Hall, is creating a new hotel chain called Vashotel.

The chain will operate two- to three-star hotels, including GK’s Vladykino, Tsaritsyno, Zolotoi Kolos, Ostankino, Voskhod, Orekhovo, Sayany, Kuzminki, Altai, Turist and Uchyobo-Treningovaya, the company said.

This is a predictable decision, as GK’s current portfolio of hotels is too diverse — from the 5-star Rossia and Moskva (which is still under construction) to the peripheral Kuzminki and Altai, it was necessary to split them up, said Marina Smirnova, senior vice president at Jones Lang LaSalle.

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