The Ministry of Economic Development announced a plan to allocate 1.2 billion rubles generated from the sale of foreign assets toward the construction of modular hotels. This information was shared by Minister Maxim Reshetnikov during a meeting with members of the government commission focused on the socio-economic development of Russia’s North Caucasus Federal District.
Reshetnikov highlighted that five hotel projects, valued at 12 billion rubles in total, have secured concessional loans under the national tourism initiative. He also noted that a competitive process for modular hotel construction has already begun, inviting interest from developers and investors alike.
The minister added that there is an additional 1.2 billion rubles potentially available from foreign asset sales, contingent on strong project proposals. All of these resources could be directed toward accelerating the building of modular hotels that align with regional development goals and the broader tourism strategy.
Later, Deputy Prime Minister Dmitry Chernyshenko announced during a study trip to Kalmykia that the government intends to allocate around eight billion rubles to regional projects this year and in the near future. The objective remains the creation of modular hotels and related hospitality infrastructure. Kalmykia’s leadership reported progress, noting that five glamping sites have already been established in the republic and that local entrepreneurs have launched modular hotel facilities with state support in the form of grants, accelerating rural and tourist accessibility.
Earlier decisions by the government approved subsidies to regional budgets to aid the construction of modular hotels as part of the Tourism Development program. The aim is to broaden access to affordable, modern lodging across diverse regions and to stimulate local economies through a coordinated investment approach that leverages both public funding and private participation. The ongoing program reflects a sustained commitment to expanding accommodation capacity in a way that complements other tourism and regional development initiatives, with careful oversight to ensure value for taxpayers and meaningful benefits for communities. [Source attribution: Ministry of Economic Development and related government briefings.]