Sistema-Hals, later Hals-Development, is a Moscow property developer formed out of AFK Sistema. Delovoy Peterburg wrote in 2014 that it "была создана в 1994 году для консолидации девелоперских активов АФК "Система""; Swissôtel's release of May 2011 calls it "the 1993 founded OAO Sistema-Hals" and the first Russian developer on the Main Market of the London Stock Exchange, in 2006. Both founding years are printed here. [1,2]
Ownership: Sistema, VTB, And After
VTB bought 19.5% from Sistema in April 2009 and, "в декабре 2009 г.", a further 31.5%, bringing it to 51.24%. On 18 August 2014 Bank of Moscow, a VTB subsidiary, bought the remaining 48.76%, and VTB became sole owner. On 19 June 2026 VTB announced the sale of the business for more than 100 billion roubles to investors it did not name. [2,3,4]
The Pekin
Sistema-Hals bought the Hotel Pekin on Triumfalnaya Square from Intourist, planning to raise the three-star house to five-star standard. On 19 October 2011 Fairmont announced it would reopen as Fairmont Pekin Moscow in 2017 with "236 spacious guestrooms and suites"; The Moscow Times gave 137 existing rooms plus 98 new, closure in December 2013 and investment above $100 million. The Fairmont was never realised. On 16 June 2021 the group announced the completed sale of 100% of GOK Pekin to AO Gostinichny Kompleks Zhemchuzhina; the price was not disclosed. [5,6,7,8,9]
Kamelia At Sochi
The Sochi site begins, on the hotel's own account, "in 1935 with 'Nauka' Sanatorium"; a Kamelia building followed in 1970. Swissôtel signed with Sistema-Hals in May 2011 for "200 deluxe rooms and Suites", opening "expected by 2013". Reconstruction began in November 2011 and took 27 months; the grand opening was on 4 February 2014, on the eve of the Winter Games, with 203 rooms. Vedomosti puts the VTB loan at 5.7 billion roubles and total investment near 7.6 billion. [10,11,12,13]
The 2025 Sale
On 8 August 2025 VTB sold the Kamelia at auction for 10 billion roubles, the starting price, to Pravilnye Resheniya, whose beneficiary is Taras Demura of the tour operator Fun & Sun.
Editorial note — ⚑ Founding year: 1993 (Swissôtel, 2011) against 1994 (Delovoy Peterburg, 2014). ⚑ The Pekin's dates differ: Wikipedia gives 1939–1955, the 2021 sale report 1939–1958; that report gives 151 rooms, the 2011 sources 137. ⚑ The IPE report of the Intourist purchase carries no date, so the year Sistema-Hals bought the Pekin is not established here. ⚑ The 2026 sale of Hals-Development itself names no buyer. ⚑ The register earlier gave Kamelia as 200 rooms; that was the 2011 plan, and 203 is the count at opening.
Sources & Further Reading
What the entry rests on. Each reference is the card's own, published as the master cited it.