On 16 July 2004 ALROSA inaugurated a VIP-class hotel Polyarnaya Zvezda (North Star). The inauguration was attended by President of Sakha Vyacheslav Shtyrov, President of ALROSA Vladimir Kalitin, Sakha officials, deputies of Il Tumen (Sakha Republican Legislature), ALROSA employees. The opening of the hotel is timed to coincide with the 3d International Sport Games ‘Children of Asia’ held on the initiative of the Sakha administration.

In his address Mr. Shtyrov called that an important contribution into the Republic’s social and economic development and the expansion of travel business in Sakha. The best among construction workers also received awards from the President.

The nine-storey Polyarnaya Zvezda Hotel is located in the center of the city of Yakutsk, capital of Sakha, and meets all the international standards of the hotel business. Its interior and infrastructure are a happy combination of quality and style, and are designed both for business travellers and tourists. The hotel has 95 comfortable rooms, restraunts, bars, a spa and fitness centre, conference facilities and other amenities.

The hotel was built by the ALROSA Capital Construction Department, contractor of the project, for ZAO Gostinitsy ALROSA (ALROSA Hotels), the company’s subsidiary. The implementation of this project is ALROSA’s new contribution into the social and economic development of this strategically important region. ‘The company is confidently looking into the future and works to prepare necessary ‘bridgeheads’ for its development,’ said Vladimir Kalitin.