Azimut hotel chain will stop business in Europe

The Azimut hotel chain will leave the European business, informed RBC with reference to a representative of Gleden Invest, which manages the owner’s assets Azimut Hotels Alexandra Klyachin.

Since 2022, the number of hotels managed by the company has been reduced from eight to three – now hotels in the German cities of Erding, Dresden and Nuremberg continue to operate under the Azimut brand. The official website of the company previously had four more cities: Berlin, Munich, Cologne and Vienna. But according to the Booking.com hotel booking service, these hotels are now called acom-Hotel, to which, according to a representative of Glenden Invest, the Azimut network is not related.

According to the representative, the network will remain an international company, despite the termination of agreements with the EU countries. In the next two years, it is planned to open two new hotels in Israel, several projects are also being worked out in the CIS countries and development continues in the domestic market, Gleden Invest said.

Gleden Invest added that the termination or conclusion of management contracts is a constant practice of all management companies. In 2022, the Azimut network concluded ten new management agreements, and several more at the beginning of this year, shared in the representative office. In Russia, more than 60 hotels in 50 cities of the country already operate under this brand.

Net Azimut Hotels appeared in 2004. Ufa, Samara and Kostroma were the first cities where hotels under the chain’s management appeared. In 2008, the brand entered the European market – then the businessman Klyachin’s company Central European Hotel Investment acquired a chain of 20 hotels in 17 cities of Germany, Austria and the Czech Republic from the Austrian Hotel Company. In 2019, the hotel brand included seven hotels in Germany and one in Austria, which remained with Azimut Hotels until the beginning of this year.

After the start of the military operation in Ukraine, Western countries imposed sanctions on the Russian economy and industry. In particular, some foreign brands began to leave the country, including hotel chains. In March, the departure was announced by Hyatt International, Accor (Novotel, Ibis, Mercure, Rixos, Pullman), Marriott (Sheraton, Ritz-Carlton, Renaissance), etc.