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News Release

Moscow

Jones Lang LaSalle Hotels and Salans advised seller of the Sheremetyevo-2 Hotel in the first hotel transaction of the year in Moscow


Moscow, 1st Feb 2010 – Jones Lang LaSalle Hotels and International law firm Salans have advised Nairay Holdings Limited in the first Russian hotel transaction of the year when the Sheremetyevo-2 Hotel was sold to Wenaas Hotel Russia AS, part of Wenaasgruppen A/S, one of the largest hotel real estate companies in Scandinavia. The newly acquired hotel will be managed by Rezidor Hotel Group under the Park Inn brand.

The Sheremetyevo-2 Hotel is located next to the brand-new Terminal D of Sheremetyevo International Airport. The mid-market hotel features a total of 293 rooms, one bar, two restaurants, and conference and banqueting space.
Marina Usenko, Head of the Russian office, Jones Lang LaSalle Hotels, said: “This transaction is a sign of renewed confidence in Moscow’s hotel market. Investors who are active in Russia continue to focus on Moscow and St. Petersburg as they are best positioned to weather the financial downturn and could recover more quickly compared to other regional markets. Moscow continues to show remarkable resilience in attracting international and domestic visitors; this was particularly noticeable in the second half of 2009 with the Moscow hotels’ occupancy rates growth. Sheremetyevo International Airport remains the major gateway for the country, offering excellent opportunities for the hotel business in the medium- to long-term.”
Alex Skoblo, Salans Partner and Head of Global Hotel & Hospitality Practice, commented: "We are very pleased to have brought this transaction to a successful closing yesterday.  It marks one of the most significant hotel transactions in the Russian Federation since the onset of the global economic crisis, and shows that this sector is poised for a rebound.  Coming just after the opening of the new terminal at Sheremetyevo Airport, it is one more sign of the expansion and modernization of this vital transportation hub."  
 
 

About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide the depth and breadth of advice required by hotel investor and operator clients, through a robust and integrated local network.
In 2008, Jones Lang LaSalle Hotels provided sale, purchase and financing advice on over $3.7 billion worth of transactions globally relating to 120 assets. In addition, advisory and valuation services were provided on more than 600 assignments. The global team comprises over 200 hotel specialists, operating from 36 offices in 19 countries. The firm's advice is supported by a dedicated global research team, which produced over 87 publications in 2008 in addition to client research.
Jones Lang LaSalle Hotels' services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Their services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services. Jones Lang LaSalle Hotels' clients have access to the resources of its parent company, Jones Lang LaSalle (NYSE: JLL). http://www.joneslanglasallehotels.com
 
About Salans
Salans is an international commercial law firm built on a pioneering spirit with over 750 lawyers globally operating from 21 offices. Salans LLP has offices, or is associated with Salans offices in: ALMATY, BAKU, BARCELONA, BEIJING, BERLIN, BRATISLAVA, BUCHAREST, BUDAPEST, FRANKFURT, HONG KONG, ISTANBUL, KYIV, LONDON, MADRID, MOSCOW, NEW YORK, PARIS,  PRAGUE, SHANGHAI, ST. PETERSBURG, WARSAW.
Salans LLP is a Limited Liability Partnership registered in England and Wales with Registration Number OC 316822.  Regulated by the Solicitors' Regulation Authority of England and Wales.   A list of the members of Salans LLP and of the non-members who are designated as partners of Salans LLP and/or its affiliated entities is available at its Registered Office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom.  See www.salans.com for further information.
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specialising in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.3 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $37 billion of assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Almaty. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008 and 2009 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.
For further information, please visit our Web site, http://www.joneslanglasalle.ru