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Construction of multimillion-dollar Russian franchise hotel kicks off in Kyrgyzstan

Kyrgyzstan Materials 12 September 2024 13:33 (UTC +04:00)
Construction of multimillion-dollar Russian franchise hotel kicks off in Kyrgyzstan
Abdullo Janob
Abdullo Janob
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BISHKEK, Kyrgyzstan, September 12. A cornerstone has been laid for a new hotel in Kyrgyzstan's Issyk-Kul region, with a total investment of $12.6 million, Russian-Kyrgyz Development Fund (RKDF) told Trend.

The 110-room hotel, set to be built on the grounds of the existing "Kapriz" recreation center, will be operated under the Russian Azimut Hotels franchise. Of the total investment, $9.3 million is allocated by the RKDF.

The project's stated goal is to improve service quality and increase tourism in Issyk-Kul. In addition to increasing tax and social contributions to the budget, it is anticipated that 95 additional jobs would be created.

“This will be the first branded hotel in Issyk-Kul designed as a resort and recreational zone. It is also the first Azimut franchise hotel in Kyrgyzstan. We are discussing further development of the hotel industry in the country,” said Artem Novikov, Chairman of the Board of the RKDF

In turn, the head of the Russian Presidential Department for Interregional and Cultural Relations with Foreign Countries Igor Maslov noted that the RKDF will celebrate its 10th anniversary in 2024. He highlighted the fund's recent active role, including the laying of capsules and opening of various industrial, energy, and social projects in Kyrgyzstan and Russia.

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