Belarusian businessmen Alexei and Yuri Hotin became new owners of the hotel complex Moscow. The hotel complex was acquired from Suleiman Kerimov with the help of a loan from VTB Bank. Alexei and Yuri Hotin are the owners of TC Gorbushkin Yard, TC Filion, BC East Gate and other commercial real estate assets in Moscow with total area of 2 million sqm. Besides the hotel complex Moscow, the income from the rental business of retail and office space is estimated at $320 million.
Hotel Moscow is located in the heart of the capital next to Red Square and consists of the Four Seasons Hotel Moscow with 180 rooms, the 41,000 sqm shopping gallery Fashion Season, and additional apartments. Hotins bought Fashion Season for $350 million. Estimates on the total value of the properties range from as little as $140m to $1bn.
