Knight Frank has advised the Moscow city government to sell eight of its hotels in a drive to raise standards of accommodation in the city.
They are the 3,090-bedroom Rossiya, one of the world’s largest – which also supplies hot water to the Kremlin Budapest (125 rooms) Belgrad (450) Leningradskaya (345) Ostankino (340) Pekin (350) Volga (230) and Warsaw (110).
Because foreigners are not permitted to own land, the hotel properties will be sold with 49-year leases.
