Armani denies plans for Russia hotel

MILAN Fashion designer Giorgio Armani has denied reports that his luxury hotel brand will develop in Russia’s Caucasus region.

“The Armani Group categorically states that reports of its intention to open an Armani Hotel in the Russian Caucasus are without foundation,” the company says in a statement.

Last month, multiple media outlets in Russia reported that Armani had created a division specifically aimed at developing a resort in Caucasus. The reports quoted Vasily Solovyov, said to be project manager for Armani Hotels Caucasus, as saying a 100-key hotel could be built in one of the area’s spa villages at a cost of about US$150 million.