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SHERATON OVERSEES MANAGEMENT CORPORATION BECOMES

				
				
				
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SHERATON OVERSEES MANAGEMENT CORPORATION BECOMES
OPERATING COMPANY OF HOTEL "NEVA ORIENTAL CARPET".
      St.-Petersburg, on September, 23rd. A/PRIME-TASS/. Open Company joint venture
"Hermes", owning the Petersburg five-stars hotel
"The Neva Oriental carpet" on 287 numbers, and company Sheraton
Oversees Management Corporation have signed the agreement about
Operation and management of hotel, according to which
Last becomes operating company "Neva
Oriental carpet ", having replaced the former operating company - Marco
Polo.
      On it has informed on Tuesday of the PRIME-TASS the general
The director of Open Company "Hermes" Leonid Mihajlov, not having named
Contract cost. As he said, advantages, which
Receives "the Neva Oriental carpet", passing in management Sheraton,
Consist in access to systems of booking,
Reservations, marketing and advertising world famous
The company working in 50 countries of the world.
      According to the chairman of committee on external relations
Administrations of St.-Petersburg of Gennady Tkacheva,
"Hermes's" cooperation, where city administration in
Person KUGI 51 percent of actions, with the company belongs
Sheraton will allow to achieve "debt re-structuring
"Hermes" to the Austrian bank Creditanstalt Bankverein in
122 million volume doll for the term of 24-25 years with the considerable
Interest rate decrease ". As he said, the credit in
100 million volume doll under 7,5 percents annual for 7,5 years under
The municipality guarantees, given out by the Austrian bank in
1989, it has started to be repaid since September, 1994 and
Payments for all this time have made only 13 million doll
Instead of annual 22 million dollars
      As president Sheraton Robert Kotter has declared, it
The company "is extremely interested in job on
The Russian market ". He has informed, that in company plans
Development of a hotel infrastructure not only enters in
St.-Petersburg, but also Moscow where Sheraton took in
Management 5-stars hotel "Oriental carpet"/221 number / and in
Tbilisi/Gruzija/-hotel "Metehi the Oriental carpet"/342 numbers /
The same class. All three hotels before
Austrian company Marco Polo operated. Robert Kotter
Has told, that with joining of these of 3 hotels, number
Hotels in Europe, being in company conducting
Sheraton, will reach 68. As he said, the company namerena
To raise economic efficiency of hotel "Neva
Oriental carpet "which congestion and now makes nearby
80 percents, by increase of cost of numbers, and also
Attraction bolshego quantities of clients without
Uses of discounts.
       The agreement between the joint venture of Open Company "Hermes" and the company
Sheraton will come into force after its statement Council
"Hermes's" directors and coming into force of the arrangement with
Austrian bank Creditanstslt Bankverein about
Re-structurings of a debt within the next month.
dk/oa
//* an information Source: the Prime-TASS, 23.09.97
//* Reg. Nom. - 6070900251.36-------------------------------------------