317-room Ibis Hotel Moscow funded by Akfen REIT began welcoming guests in Russia on 16 July. Ibis Hotel Moscow, funded by the Akfen Real Estate Investment Trust (REIT) which is the one and only real estate investment trust of Turkey in the field of economic urban hotel management, began welcoming guests in the Russian capital, Moscow. The 317-room Ibis Hotel Moscow, which opened for business on 16 July 2015, will be managed by Accor, which is the strategic partner of Akfen REIT and the leader hotel manager of Europe. General Director of Akfen REIT, Vedat Tural, stated that they are pleased to be opening a new hotel in Russia, which is one of Turkey’s most important commercial partners, and added: “Ibis Hotel Moscow is on the busiest route of the city. Moreover, it is close to the sports centers of tourist attractions in the city. Our hotel is designed as a unique example of the urban hotel management concept and it has the biggest number of rooms among our investments up to now.” NUMBER OF ACTIVE HOTELS BECOMES 18 Vedat Tural emphasized that once Ibis Hotel Moscow was put into service, the number of the active hotels of the company in Russia became four: “We have 18 active hotels in Turkey, Russia and TRNC in total. Investments in the 200-room and five-star Karaköy Novotel and 200-room Ibis Hotel Tuzla continue. Once these projects are completed, we will have a portfolio consisting of 20 hotels and three thousand 628 rooms in total. Thus, we will become one of the leading hotel investors of our region, having hotels constructed and managed at international standards in terms of both hotel and the number of the rooms. We continue to invest accordingly.”