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Moscow Hotel’s capital renovation will require over 16bln rubles of investments

Multibillion Ruble Overhaul

The investment needed for the reconstruction of the Moscow Hotel has been estimated at 16.2bln rubles, Goarik Kotanjian, the CEO of DecMos development company, said at a February press conference devoted to the opening the first phase of the hotel, which comprises a shopping mall, underground parking, an administrative center and apartment hotel. The second part will be opened in 2013.

The reconstruction plan envisages building of a new, 185,500sqm, mixed-use complex that will house a 180-room luxury suite hotel, 46 residences, apartment hotel with 79 residential apartments, shopping center, convention hall, class A offices and parking for 717 cars.