One of Russia’s leading private equity firms, Glorax Capital Fund, is planning to acquire, refurbish and operate a global brand of five-star hotels and resorts, reports Hotel Mag. The fund has a war-chest of around US$870 and the hotel brand is to be called Glorax.
Talks are reportedly underway in resort markets ranging from Turkey and France to the Maldives and Philippines.
Details: www.hotelsmag.com/
