Jumeirah Group, the Dubai-based hotel company, said on Wednesday it has signed a management agreement with IFG Basis Proect to manage a luxury hotel on Nevsky Prospect in St Petersburg, Russia.
The hotel is currently under development and is expected to open within the next three years, the company said in a statement.
The hotel will be developed within the structure of Wavelberg House, a building of national cultural importance built in 1912, which stands on the corner of Nevsky Prospect and Malaya Morskaya Street, one of the most exclusive addresses in St Petersburg.
The interior design by The Gallery, HBA London office, preserves many of the original features of the building, including its distinctive facade and marble floored banking hall.
When completed the hotel will consist of 74 rooms, including 18 suites, three bars and restaurants, meeting facilities, a spa and rooftop hydrotherapy pool and prestige retail space fronting onto Nevsky Prospect.
Ilya Sokolov, director general, IFG-Basis-Proect, said: "We are very proud to be transforming this historic building into a luxury hotel and especially pleased that Jumeirah Group will manage it when it opens. The demand for high-end luxury hotel accommodation in St Petersburg is strong and we are confident that this new property will capture the imagination of discerning travellers coming to the city."
Gerald Lawless, president and CEO of Jumeirah Group, added: "Jumeirah's hotels and resorts in Dubai have always been so popular with Russian visitors that we are delighted now to be able to bring the brand to Russia itself.
"The good news is that our first hotel in the Russian market is in such a prestigious location at the heart of St Petersburg in a building that has such a rich heritage. We look forward to working with IFG to ensure a successful completion of the project and a spectacular launch of Jumeirah in Russia."
Jumeirah Group currently operates 22 luxury hotels and serviced apartments, including 11 in the Gulf region, six in Europe and five in Asia. A further 15 hotels are now under development.