The deal was one of four short-listed in the New Development category, which also included The Lowry Hotel in Manchester, Hilton at Copenhagen Airport and Hilton Trafalgar in London.
 

Radisson SAS� award-winning new development is a conversion of an 18th-century palace into the five-star, 164-room Radisson SAS Royal Hotel on Nevsky Prospect in the heart of St. Petersburg, which opened in July 2001. The original building was demolished and reconstructed, but its façade was preserved, retaining over 200 years of history. The project was a multi-national effort in a joint venture with the four equity partners Moskva-Amerika, the US Russia Investment Fund, Ucgen Construction and Radisson SAS, with lending provided by the European Bank of Reconstruction & Development.

Kurt Ritter, President & CEO, who received the award on behalf of Radisson SAS Hotels & Resorts and all partners involved said, �The recognition of this exciting project confirms that this was a complex but rewarding deal. Seven years ago we took the first step, as we firmly believed this was a worthwhile investment in a country with great potential. We have already started reaping the positive returns. We are now extremely proud of this flagship hotel in this fascinating city, and we thank the industry experts who recognized our pioneering efforts in this region.�

Radisson SAS Hotels & Resorts currently includes 147 hotels in operation and under development in 37 countries, including four hotels in Russia in St. Petersburg, Moscow and Sochi. ). For reservations or information, call
1-800-333-3333. Visit us at http://www.radissonsas.com