XXI Century to start Sofitel Hotel in Kyiv by August

XXI Century Investments (AIM: XXIC LN) plans to start construction on its Sofitel Hotel in Kyiv by August, Board Chairman Lev Partzkhaladze said yesterday at a press conference, according to Interfax. The 298-room five star hotel is to be located on a 0.4 ha land plot at the corner of Luteranska and Kuhlouniversytetska streets, a few minutes from downtown Kyiv’s famous Khreschatyk and Bessarabka Square. Partzkhaladze did not disclose financing details for the project, but said that it could make an additional share issue. He estimated the cost of the Sofitel Hotel at about USD 100 mln. XXI Century signed an agreement in 2007 with France’s Accor to manage the property.