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A program for granting preferential loans for the construction of hotels is being launched in Russia
The rules for granting such loans were approved by Resolution No. 141 dated February 9, 2021, signed by Mikhail Mishustin.
Entrepreneurs who plan to build or renovate hotels can get preferential loans.
The Government has approved the rules for issuing such loans.
The preferential loan rate is from 3% to 5% per annum. The term of the loan agreement is up to 15 years inclusive.
The funds received can be used for the construction or reconstruction of buildings to accommodate hotels with an area of at least 5 thousand square meters or with a fund of 120 rooms. It is also allowed to invest in hotels located in office or shopping and entertainment complexes if their fund exceeds 150 rooms.
The preferential loan will be available to organizations that do not have salary arrears to employees and overdue tax payments.
The Government of the Russian Federation stressed that these measures will attract new investors to the industry, stimulate the creation of high-quality infrastructure, which in turn will increase the attractiveness of domestic and inbound tourism.
