Cosmos Hotel Group will manage a five-star hotel in Gelendzhik

With the growing tourist flow to Gelendzhik, large hotel chains are entering the city. Thus, Cosmos Hotel Group, part of AFK Sistema, will become the operator of a five-star hotel complex based on the Thin Cape boarding house, where 1 thousand rooms are planned. A risk for the management company could be the low occupancy of Gelendzhik in the off-season, experts warn.

Cosmos Hotel Group (CHG) will manage a five-star hotel in Gelendzhik, which is being implemented by the developer Neometry. The parties informed Kommersant about the conclusion of the contract. President of Cosmos Hotel Group Alexander Biba called the development of the Black Sea coast a strategically important task for the company.

CHG is part of AFK Sistema founded by Vladimir Yevtushenkov. The portfolio includes 40 hotels with more than 10 thousand rooms. In the Krasnodar region, the group is developing two hotels in Sochi and one facility in Adler.

Neometry is part of the Alias ​​Group holding, created by Boris Yunanov, deputy of the legislative assembly of the Krasnodar region. According to its own data, Neometry has built about 1 million square meters. m of real estate. At the beginning of 2024, Alias ​​Group announced the implementation of development projects with Capital Group in Moscow.

Construction of the complex in Gelendzhik is planned to begin in 2025 on 16 hectares on the territory of the Tonkiy Mys boarding house. In 2010, an agreement to implement the project here was concluded with Alexander Chistyakov’s Hermitage Construction & Management Group. But construction was delayed. According to SPARK, in 2017, Edelweiss LLC, which leased plots in this territory, came under the control of structures associated with the shareholder of the titanium manufacturer VSMPO-Avisma, Mikhail Shelkov. And in June 2023, SZ Novamosstroy LLC, part of the Alias ​​Group, became the owner of Edelweiss, follows from SPARK.

Currently, investments in the construction of the complex are estimated at 22 billion rubles. The complex with 1 thousand rooms should include several buildings with a height of one to four floors, cottages, swimming pools, tennis courts, etc. The implementation of the project is designed for four years.

Managing partner of Ivashkevich Hospitality Stanislav Ivashkevich believes that 100–300 rooms will operate as a hotel, and the remaining areas can be sold as apartments. The expert estimated the proceeds from the sale of the latter at 14–15 billion rubles. with an average price of 700 thousand rubles. for 1 sq. m. But, Mr. Ivashkevich emphasizes, it is important for the developer to retain more than half of the area, otherwise control over the object may be lost.

According to Stanislav Ivashkevich, management companies usually receive about 10% of the hotel’s revenue. CHG’s income in the project, he adds, will depend on the number of units under management. Dmitry Parinos, deputy director of the hospitality industry division of CORE.XP, notes that many foreign hotel brands have left Russia, and the remaining ones have suspended development.

According to OneTwoTrip, the number of hotel bookings in Gelendzhik from January 1 to March 5 increased by 47% year-on-year, the average cost per night increased by 11%, to 7.5 thousand rubles. Tvil.ru says that demand for accommodation in Gelendzhik increased by 7% year on year. The city ranks third among popular resorts, behind Sochi and Anapa, they added.

Regional director of the Nikoliers strategic consulting department, Vladislav Nikolaev, notes that there are now three large five-star hotels in Gelendzhik, one of which has been operating since 1996, and two notable four-star projects. The new complex, according to the consultant, can become promising. Although Mr. Nikolaev warns that facilities in Gelendzhik, as a rule, are difficult to load in the off-season: in February-April and November-December.

Alexandra Mertsalova, Anatoly Kostyrev