Billionaire Melnichenko buys hotels in bulk

Billionaire Melnichenko buys hotels in bulk

The former co-owner of Sibuglemet holding bought two five-star hotels in 2015.

Vladimir Melnichenko bought a five-star Hotel Neptun in Warnemünde resort on Baltic Sea coast. Experts estimated the value of the hotel at 100 million euros. Melnichenko also bought a five-star Louis C. Jacob in Hamburg worth 40 million euros, according to Life.

As the newspaper wrote, both hotels were bought in 2015 and the same company, Deutsche Seereederei (DSR), manages both.

Louis C. Jacob offers 85 rooms: 21 suites and 64 regular. They pay 1 million euros per year for the rent.

Hotel Neptun is much larger: it has 338 rooms and 16 floors. It employs 266 people, including 54 apprentices. Neptun also has two restaurants, six cafes and bars. In summer, a room for one person can be rented for a price ranging from 139 to 349 euros per night, and suites from 874 to 1599 euros per night.

The hotel offers entertainment for every taste: you can play golf, do water sports like SUB-surfing or kiting, go to a fitness club, etc. Various corporate events are possible, such as conferences, seminars and trainings.

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Vladimir Melnichenko

According to Life, a hotel like this would cost 110-140 million euros in Russia.

In 2016, Melnichenko ranked 179th in the Forbes’ list of Russian billionaires, with a fortune of $450 million. He used to own a part of one of the largest producers of coking coal in Russia, the holding company Sibuglemet. Then he sold his share, but the transaction value was not disclosed. However, the governor of the Kemerovo region, Aman Tuleev, said that Melnichenko had made $700 million on the deal.

Tags: Oligarchs
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