The former Paradise Hotel Saipan in the Commonwealth of the Northern Marianas has been acquired by a group of Russian businessmen.
The group paid 650 thousand US dollars for the 32-room hotel opposite the Commonwealth Health Centre in Garapan.
The hotel buyers have committed to spending an additional one million dollars on hotel renovations.
The purchase comes on the heels of other Russian investors acquiring Marianas Coffee.
Russian businessmen are also eyeing the establishment of eco-tourism tours on Pagan.
The increasing number of tourists in the CNMI is creating a lack of hotel beds.
