Cosmos Group is a new page in the history of Sistema Joint-Stock Financial Corporation’s hotel business. Until recently, the company was known on the market as Intourist Joint-Stock Company and had already gained a strong reputation among customers and partners.
Regardless of the name, the pillars of our business have always been client focus and value creation for hotel guests and, consequently, proprietors, employees and partners.
- 2003. Intourist Hotel Group management company is founded as a separate business of Intourist tour operator.
- 2006-2011. Intourist Hotel Group is a successful and fast growing company within the Russian and global hotel industry.
- 2006. Intourist Hotel Group acquires interest in Cosmos Hotel at an auction initiated by the Moscow City Property Department and becomes the majority shareholder.
- 2011. In March, the Group management structure is reorganized by means of the merger between two management companies: Intourist and Intourist Hotel Group. On April 1, 2011, the Intourist Hotel Group staff become part of Intourist and continue to perform their hotel management functions.
- Sistema Joint-Stock Financial Corporation launches reorganization of its hotel business by separating hotel ownership and management functions between two entities. Sistema Hotel Management limited liability company becomes the hotel assets owner. Intourist continues to perform hotel management functions. A plan to set up a new hotel management company is under development.
- November 7, 2016. Sistema Hotel Management acquires nine Regional Hotel Chain properties from VIY Management, including Holiday Inn Express (Voronezh), and seven operating Park Inn hotels in Astrakhan, Volgograd, Izhevsk, Kazan, Novosibirsk, Sochi and Yaroslavl. As a result of the transaction, Sistema’s hotel room stock increased to 3,663 rooms.
- April 11, 2017.Sistema completes separation of hotel asset ownership and management functions. A new hotel management company Cosmos Group is set up, ready to manage 16 hotels in 14 cities in Russia and worldwide.