And in the Grand Hotel "Europe" has been replaced by the management company. Shareholders of the leading hotels of St. Petersburg signed a contract with Orient-Express Hotels ltd. This hotel chain will not only manage the "Europe", but also willing to invest millions of dollars in its development. Until now, the Grand Hotel is managed by an international company Kempinski. Orient-Express purchased from Kempinski its management-contract. The transaction price was not disclosed. Five-star hotel after renovation worked for thirteen years and in need of investment. "Europe" - the first draft of Orient-Express Hotels ltd in our country. For three years the company intends to invest in the development of the Russian net $ 250 million.
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