Anton Milov will say goodbye to the hotel in Sochi

The investment division of Alfa Group plans to buy the 4-star Bridge Resort Hotel in Sochi, which is pledged in VEB.RF. The hotel was erected by the Mostovik company, which went bankrupt after the Olympic construction projects.
Origin source
The Federal Antimonopoly Service received a request to purchase LLC Mostovik Development, which manages the Bright Resort hotel complex in the Imereti Valley in Sochi. The hotel is being planned to be bought by Manhattan Ltd., owned through a chain of companies from the Luxembourg company A1 Investment Holding S.A. According to the Luxembourg Registry, Mikhail Fridman and German Khan were among the managers of this company. A1 is an investment division of Alfa Group. Representative A1 declined to comment.

“Mostovik Development”, as it follows from the Unified Statements, belongs to Anton Milov, whose share is fully incorporated by the state-owned development corporation VEB.RF (previously, simply VEB). This is the structure of the Mostovik group that built the Olympic facilities in Sochi, but in 2016 Mostovik Development LLC was declared bankrupt. The main creditor of the company was VEB, the state corporation's claims amounted to 2.3 billion rubles. In 2017, the parties entered into a settlement agreement, under which the company became pledged to VEB. RBC sent a request to the press service of VEB.RF.

The Bright Resort includes a 4-star hotel with 700 rooms and individual chalets. The hotel complex is located on a plot of almost 6 hectares. According to Stanislav Ivashkevich, managing partner of Ivashkevich Hospitality, the cost of the hotel complex, based on its income, can reach $ 35-40 million (2.3-2-6 billion rubles at the current rate). At the same time, according to Ivashkevich, about $ 70 million was spent on construction. “But such money will not be given for it now,” the expert is sure.

The revenue of Mostovik Development LLC under RAS in 2017 amounted to 107 million rubles, a net loss of 431 million rubles, follows from the SPARK database.

Current A1 projects include Polyplastic, a polymer pipe manufacturer, Moscow Tire Plant, SineLab film studio. Earlier, the company invested in the Formula Kino cinema chain, TNK-BP oil company, Rosvodokanal and other projects.