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Italian design house Armani Group has denied it is planning to open a third branded hotel in Russia, under a joint venture deal with Dubai’s Emaar Properties. The design company, which launched its first branded hotel in Dubai’s Burj Khalifa in April last year, spoke out after press reports claimed it had signed a $150m deal to open a property in the Russian resort of Stavropol.

Italian fashion designer Giorgio Armani categorically denies press reports that the luxury hotel brand is planning to develop a hotel in Russia's Caucasus region, a company statement said Monday. Investment in the project was estimated at over 150 million dollars (109 million euros), the report said.

On Monday, Giorgio Armani denied that his hotel group was planning on opening a new property in Stavropol, according to the Agence France Presse. This would mark the third hotel for the group, which already has properties in Dubai (in April, the latest hotel opened in the Burj Khalifa, the world's tallest building) and Milan.

Italian fashion designer Giorgio Armani categorically denies press reports that the luxury hotel brand is planning to develop a hotel in Russia's Caucasus region, a company statement said on Monday. The Armani group opened its first 160-room luxury hotel in April in 2010 in Dubai in the highest tower in the world, Bourj Khalifa, and plans to open similar developments in other countries.

Missoni Kuwait is the latest in a growing list of Gulf hotels designed by top Italian fashion labels. The first Armani hotel opened in Dubai in 2010 and will be followed by the launch of the Palazzo Versace hotel later this year. Elisabetta Gucci, the great-granddaughter of the founder of the fashion label, last year said Dubai would be the setting for the first of up to 40 Gucci branded hotels.

Visitors can travel to what is known as "At the Top" which isn't really at the top but more like level 124. For those in a hurry, and who want to travel immediately, you'll have to donate $133 to maintaining the building's upkeep. If you can wait for a specifically dated and timed access, it will only cost $34, with virtually no discount for kids. Atmosphere Restaurant on the 122nd floor could be a better option as you can enjoy a meal with the view.

Citing ‘industry sources’, the paper claimed that the operator is looking to open in Stavropol region’s mineral springs resort area. Investment in the project, which is to be unveiled at the MIPIM real estate show in Cannes in March would be more then US $150 million. The mineral springs area, is situated north of the Caucasus mountain range and the spa resort’s popularity has fallen as the infrastructure hasn’t been maintained since the end of the Soviet Russia.

Giorgio Armani S.p.A., the investment vehicle of Italian designer Giorgio Armani, plans to build a $150 million, 100-room "designer" hotel in the south of Russia, Kommersant business daily quoted a source at developer POP as saying on Friday. The $2,000 a night hotel project is expected to break even in eight years.

Russia’s North Caucasus isn’t renowned as a fashion hotspot – but the resort towns around Mineralniye Vody could change all that. World-famous designer Giorgio Armani is considering open his second branded hotel in the mountain resort in Stavropol Region.

The DEPE has partnered with over 80 four and five-star hotels including beach hotels and resorts for DSF 2011. Some of the participating beach and city hotels include Madinat Jumeirah, Armani Hotels & Resorts, Atlantis the Palm Jumeirah, InterContintental Dubai Festival City, Jebel Ali Golf Resort & Spa, Jumeirah Bab Al Shams Desert Resort & Spa, Jumeirah Emirates Towers, Kempinski Hotel Mall of The Emirates, The Address Downtown Dubai, The Palace - The Old Town Hotel and numerous other hotels.