World Chess Federation to Build Hotels in Russia
9.08.2007
The world’s second largest chess federation (FIDE) intends to build hotels in 165 countries. All hotels are said to be in the shape of chess figures. FIDE plans to build 150 hotels and chess centres within the nearest four years. According to FIDE president Kirsan Ilyumzhinov, at the first stage nearly US$1 billion is to be allotted for bringing the plans to life.
The total cost of the project is estimated at US$50 billion. It is already known that a number of chess centres and hotel complexes will first appear in Chisinau (Moldova), People’s Republic of China, and such Russian cities as Samara, Yekaterinburg, and Khanty-Mansiysk.
Another grandiose part of the FIDE project is building of a chess city that will consist of 32 hotels in the shape of chess in the UAE. It is an expensive project but FIDE has already arranged a settlement with several investors.
Source: Russian News
I wanna pawn 🙂
The first sentence should read that FIDE is world’s second largest SPORTS federation (after FIFA). Is it a Freudian slip? Does the journalist know something?
Isn’t it awesome that FIDE is so awash in cash that it can spend $50 billion on hotels?
There are people that beleive this story?
It must hurt that Susan has beaten FIDE to the ground in the Swiss court, that the North American company invented leading chess technology which will be carried from generation to generation, that the chess world made triumphant women’s Grand-Prix (without FIDE), while FIDE cannot even manage to complete its World Championship cycle without five times changing the rules, pissing off top players or securing a single sponsor of good reputation. Questionable real estate and making promises which are not fulfilled appears to be the way that those people operate.
Yet another monument to Kirsan’s ego. I wonder how big a share of these hotels he personally will own, and how many front companies these shares will be hidden behind.
This story does not make sense at all. Does this story come from a Fide press release.
I am going to wait on this story. I thought fide had financial problems.
Hotels all over the world built like chess pieces. OH really.
Wake me up. I must be dreaming.
Well $50 billion here and $50 billion there and before you know it you’re broke. Reminds me of the way my former wife used to spend my money.
Who does Kirsan think he is kidding?
Any investor who gets rooked into funding such a boondogle will later find himself at the pawn shop.
GeneM
If the hotels, shaped like pieces, actually move, then I’ll be really impressed. 🙂
Brad Hoehne
$50,000,000,000.00 and FIDE can’t really pawn up the money to bring real contenders together. I think the chess hotels thing is a cute idea though. Don’t you love the news? It’s rarely true.
Raphael
President
ChessHouse.com