JSC Hotel Novoslobodskaya, a fully-owned subsidiary of Russian real estate firm Open Investments (OPIN), has raised its stake in Moscow's Hotel Novoslobodskaya from 69% to 100%. The property, which is located in Moscow's city centre, was sold at an auction organised by the City Government for an undisclosed amount. The property comprises 255-rooms, and is managed by the Accor hotel group under the Novotel brand. The hotel was opened in September 2002 and has an average hotel occupancy rate of 75%.
JSC Hotel Novoslobodskaya, a fully-owned subsidiary of Russian real estate firm Open Investments (OPIN), has raised its stake in Moscow's Hotel Novoslobodskaya from 69% to 100%. The property, which is located in Moscow's city centre, was sold at an auction organised by the City Government for an undisclosed amount. The property comprises 255-rooms, and is managed by the Accor hotel group under the Novotel brand. The hotel was opened in September 2002 and has an average hotel occupancy rate of 75%.
OPIN is a Russian real estate investment and development group which was established in September 2002 by Interros, one of Russia's largest private investment companies. The company was the first Russian real estate developer to be listed in Russia in November 2004, and has today a market capitalisation of $ 5.6bn.
