UMACO is at the Russia & CIS Hotel Investment Conference 2008

23.10.2008

 

Hotel Developer and Operator UMACO is pleased to announce that it received high levels of investor interest at the Russian Hotel and Investment conference held this week in Moscow. UMACO was exhibiting its two flagship brands, Katerina and Infraotel to investors from across the globe. Alexander Udalov, president of the UMACO Group says despite global financial markets being in a state of flux there is clearly still capital available for the right product: “We are enormously gratified by the level of interest our projects received from investors at the conference given that investors are now a lot more discerning about the projects and companies they choose to become involved with. UMACO’s ability to offer long term securitised investment is certainly an asset to us in the current economic climate. As both an operator and developer UMACO is in an almost unique position in Russia of being able to sign long term leases with guaranteed rental income for a period of up to 20 years. Speaking as a panellist at the conference Udalov noted: “In order to achieve further successful development in the Russian hotel market today a number of factors need to be in place, namely: choosing the right location and operator as well as the correct timing for construction and opening. These factors are of critical importance in the Russian market where the lack of hotel developers and operators is tangible”.