Family of Boris Mints who left Russia buys hotel in England

Family of Boris Mints who left Russia buys hotel in England
Boris Mints Photo: TASS news agency

Back home, the oligarch used to own O1 Properties, however, gave it for debts and left the country.

The family of the O1 Group founder Boris Mints has purchased a hotel DoubleTree by Hilton Cheltenham in Great Britain located 150 km from London. This is reported by RBС with reference to the data of the Register of British Societies.

The family of Mints is not direct owners. In particular, the hotel was purchased by Michels Ventures 1 Ltd which is a 100 percent owned by Lethendy Estates Ltd registered in February this year only. It has been headed by Dmitry Mints since its foundation. In June, the company changed the shareholder - it was bought by Cyprian Milyan Investments Ltd that is in turn owned by two companies from the Cayman Islands - Asfalot Ltd and Mallorn Ltd. They serve the interests of the family trust (Mints Family Trust). This was said in reports related to the deal between O1 Group and Austrian Immofinanz published in 2016.

Dmitry Mints and the O1 Group representative left the RBC requests on this topic with no reply.

It is noted that the hotel DoubleTree by Hilton Cheltenham is located in a county of Gloucestershire - in a protected natural area of Cotswolds where, for instance, is also located Prince Harry and his spouse Meghan Markle's royal residence.

Since 2016, the hotel’s majority owner is London & Regional Properties owned by billionaire brothers Richard and Ian Livingstones.

In an interview with the portal, the co-owner of Ivashkevich Hospitality Stanislav Ivashkevich expressed the opinion that the family of Mints purchased “a stable working business showing the meaningful return on investment.” The contract with Hilton is normally tied up for a long-term (20-25 years) - the purchaser has got the business with a stable income of at least £5 a year.

RBС notes that the Cheltenham hotel is not the first property of Mints in Great Britain. According to an RBС source, a few years ago, the businessman - under influence of emotions - bought a castle in Scotland. According to some reports, Mints and his family sometimes spend time there, however, during most of the time, lease.

It is to be recalled that in 2017, Boris Mints’ fortune was estimated at $1.3 billion by Forbes. He was ranked 72 among richest Russian businessmen. However, after O1 Properties became bankrupt, the businessman, an owner of office buildings in Moscow, left the list. The holding’s debts turned out to be tantamount to the net assets of O1 Properties and FG Budushchee that are the members of it. After the family of Mints moved to London, O1 Properties went to Cyprian Riverstretch Trading & Investments Lев (RT&I) which is, according to Vedomosti business daily, owned by Pavel Veshchenko (90%) and Valery Mikhailov (10%). 

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