City Hall has sold Radisson SAS Slavyanskaya for 5.27 billion roubles, or $175 million to Hotel Invest Company controlled by Zarakh Iliev and his partner God Nisanov.

      According to Nadezhda Spiridonova, a representative of the new owners, the hotel near Moscow’s Kievsky Railway Station will be renovated. A parking lot may be added along its perimeter, and a new building constructed in the inner yard.

      According to Forbes, Zarakh Iliev and God Nisanov also own the Radisson Royal Ukraine Hotel, European Shopping Center in Moscow, a number of shopping markets near metro stations in the Russian capital and a growing list of hotel projects in Russia’s regions.

      Forbes puts Zarakh Iliev at 35th place in Russia, and 521st in the world, in its billionaire list, with $2.4 billion in assets.

      Opened in 1991 as the first western-standard luxury hotel in Moscow, the Radisson SAS Slavyanskaya enjoys great scenery and has helped to turn the area into one of the liveliest business communities in Moscow.