Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

St. Petersburg 5-Star Hotel's Opening Delayed

ST. PETERSBURG -- Construction on the city's newest five-star hotel has ground to a halt, pushing the planned opening date into the summer.

Scheduled to open this month, the Clarion North Crown Hotel probably will not be ready until July because of financing problems that have brought construction to a dead stop, said the hotel general manager, Eggert Muus.

The project is a joint venture between Clarion Hotels and the Russian company Interhotel Petrograd.

It is the latest of several delays in the project, which started as a Russian-Yugoslav joint venture in the late 1980s.

In 1994, Bank St. Petersburg stepped in with financing after a three-year break in the work, and the Turkish company ATA took over construction, estimated at $58 million. Clarion entered the project recently, with a five-year contract.

Mustafa Erkuvun, ATA project manager, said he could not comment on the situation.

The North Crown will be the third five-star hotel in the city, joining the Grand Hotel Europe and Nevsky Palace Hotel as a likely destination for business travelers.

Of the 250 rooms, more than 225 are intended to be so-called junior suites designed for businessmen working and traveling in the city. Other planned features include a shopping gallery and a fitness and health club.

Two international conferences that had been booked at the hotel for May and June, were rescheduled, Muus said.

both had been relocated.