OREANDA-NEWS. On 30 April 2008 was announced, that a three-star hotel is to be built at the intersection of Michurinsky Prospekt and Lobachevskogo Street in west Moscow in 3 years to come.

“The hotel with the area of 38,700 square metres will be able to accommodate 600 guests,” a source from the city administration of Moscow said.

The construction will be carried out at the expense of the investor that won the free-for-all competition. The investor will have to transfer \\$7.4 million into the city treasury for the right to enter into an agreement of leasing the site where the hotel is to be located.