events

Russia and CIS Hotel Investment Conference, October 2008

ReardonSmith’s steadily growing interest in central and Eastern Europe was reflected in the attendance of four of its senior team members at the first Russia and CIS Hotel Investment, held at the Ritz-Carlton in Moscow. Patrick Reardon, Conrad Smith, Kevin Miller and Su Pecha took the flight East and were rewarded with a lively conference experience, the opportunity to meet new, as well as old, friends and the chance to dispel some of the Western myths about the country. Of the four, only Kevin, who had led ReardonSmith’s advance into Russian projects, had been to Moscow before, so the chance to visit one or two of the attractions around Red Square in the surprisingly mild autumnal weather was an additional bonus.

However, the news from the conference platform was not so cheery. The Russian economy was facing even greater challenges than in the West, with a triple whammy of high interest rates and falling oil prices as well as the global credit crunch with which to contend. Perhaps in line with this, ReardonSmith now finds its projects in Russia are on hold. However, our work in central Europe and the CIS countries continues and is, in fact, expanding with very exciting commissions to design iconic buildings and luxury brand hotels and apartments in Baku and Montenegro. Meanwhile, the design development of Porto Montenegro continues and, the new Hyatt Regency in Minsk in now on-site.

Su Pecha in conversation with a fellow guest