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Home » IN'JOY News » Hotel Metropol has been sold out at Moscow Auction for almost 300 Million Dollars USA to Russian Hotel Chain.

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Hotel Metropol has been sold out at Moscow Auction for almost 300 Million Dollars USA to Russian Hotel Chain. 06.09.2012 20:16

The Hotel Metropol in Moscow was sold at auction a few days ago for $275 million, three million dollars more than the starting price. The hotel was purchased by Azimut, a major Russian hotel chain that previously rented the property from the Moscow city government, who organized the auction as part of its privatization program.

Moscow currently has a shortage of hotel rooms and with an ostentatious business culture, the location of the Metropol hotel is prime for any guest who is seeking to be in the center of the city’s action. The hotel is located within walking distance from Red Square and is situated catty-corner from the Bolshoi Theater. As one of Moscow’s most distinctive buildings, the Metropol hotel has six stories and is one of the city center’s more low-rise structures.


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