Jones Lang LaSalle Hotels and International law firm Salans said they advised Nairay Holdings in the first Russian hotel transaction of the year in the sale of the Sheremetyevo-2 Hotel to Wenaas Hotel Russia, part of Wenaasgruppen, one of the largest hotel real estate companies in Scandinavia. The newly acquired hotel will be managed by Rezidor Hotel Group under the Park Inn brand.

Jones Lang LaSalle Hotels and International law firm Salans said they advised Nairay Holdings in the first Russian hotel transaction of the year in the sale of the Sheremetyevo-2 Hotel to Wenaas Hotel Russia, part of Wenaasgruppen, one of the largest hotel real estate companies in Scandinavia. The newly acquired hotel will be managed by Rezidor Hotel Group under the Park Inn brand.

The Sheremetyevo-2 Hotel is located next to the brand-new Terminal D of Sheremetyevo International Airport. The mid-market hotel features a total of 293 rooms, one bar, two restaurants, and conference and banqueting space.

Marina Usenko, head of the Russian office, Jones Lang LaSalle Hotels, said: 'This transaction is a sign of renewed confidence in Moscow’s hotel market. Investors who are active in Russia continue to focus on Moscow and St. Petersburg as they are best positioned to weather the financial downturn and could recover more quickly compared to other regional markets. Moscow continues to show remarkable resilience in attracting international and domestic visitors; this was particularly noticeable in the second half of 2009 with the Moscow hotels’ occupancy rates growth. Sheremetyevo International Airport remains the major gateway for the country, offering excellent opportunities for the hotel business in the medium- to long-term.'

Alex Skoblo, Salans partner and head of Global Hotel & Hospitality Practice, commented: 'We are very pleased to have brought this transaction to a successful closing. It marks one of the most significant hotel transactions in the Russian Federation since the onset of the global economic crisis, and shows that this sector is poised for a rebound. Coming just after the opening of the new terminal at Sheremetyevo Airport, it is one more sign of the expansion and modernization of this vital transportation hub.'