Private equity fund Glorax Capital expects to invest considerable funds in the creation of a network of hotels throughout Europe and Asia. The total investment in the project is anticipated to be $870 million. Glorax will receive help from its partners – a Chinese investment fund and the Swiss bank – in order to collect these funds.
Ideally, the finished result will be a four- to five-star hotel chain with a combined capacity of about 1.5 thousand rooms.
Development of hotels will be assigned to the Glorax Hotels management company.