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VEB.RF and AZIMUT Hotels Considering Possibilities for Developing Baikalsk’s Hotel Infrastructure

27 march 2025 года
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Measures to develop the city of Baikalsk are one high priorities for the Russian President, the federal government and local leaders, as well as VEB.RF as a major development institution. Back in 2022, with the participation of VEB.RF, a master plan was formulated for the city, which became the basis for the federal programme of Baikalsk’s socio-economic development until 2040. In furtherance of this work, VEB.RF prepared a project for the integrated development of the former production site of Baikalsk Pulp and Paper Mill, which will become a new driver of growth for the city and the entire region, and a starting point for exploring Lake Baikal.

The project involves the creation of a modern urban environment with residential and tourist infrastructure, including hotels, water transport facilities, restaurants, parks, public spaces, a congress centre, bicycle and pedestrian routes and sports facilities. The main goal is to form a new modern district of Baikalsk and create an all-season international-level resort, combining the principles of sustainable development, environmental responsibility and economic efficiency. The project will be presented in the near future.

VEB.RF is working on possible formats of interaction with businesses under this project. For instance, an agreement was reached with En+ to build a multifunctional centre of water resources.

At this stage, VEB.RF and AZIMUT Hotels signed an agreement of intent for a project to build two hotels in Baikalsk, four-star and five-star establishments, in which AZIMUT Hotels can act as an operator. The launch of the facilities is scheduled for the first quarter of 2030. The concept of each hotel will provide guests with opportunities for both active and relaxing recreation.

The five-star park hotel will be the anchor facility with investments of about 5 billion roubles, which will have an area of more than 14 hectares. It will include about 180 rooms in the hotel and cottages, food outlets, a business area, a spa with a swimming pool and a fitness centre, a children’s area, and universal sports grounds. The four-star hotel with investments of about 3 billion roubles will have an area of more than 5 hectares, including about 180 rooms, food outlets, a business area, a spa, and a sports area.
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