Legend of Moscow
Russia
Central Federal District of the Russian Federation
Moscow
109012, st. Okhotny ryad, 2
Owners
Four Seasons Hotel Moscow is part of the Four Seasons Hotels and Resorts group.
2024: Transition to State Control
The Moscow Four Seasons Hotel Moscow and the Fashion Season shopping gallery, located in the very center of the capital near Red Square, have become the property of the Russian Federation. This was announced on June 7, 2024 by the Federal Bailiff Service (FSSP).
According to the Vedomosti newspaper, the decision to seize assets in state revenue was made as part of the case of the former owner of the bank Ugra, which went bankrupt in 2018, Alexei Khotin. In March 2024, he was sentenced to 9 years in prison for embezzlement of 23.6 billion rubles of funds from a credit institution.
As noted by Dmitry Kletochkin, partner of the law firm Rustam Kurmaev and Partners, the transfer of ownership of Four Seasons and Fashion Season to the state has actually occurred:
Now the authorities, with the help of bailiffs, establish control over them - put up security, appoint management, conduct an inventory of existing values. |
According to Vladimir Bublikov, managing partner of Baglikov and Partners, the involvement of bailiffs in the seizure of assets was due to the fact that they were not voluntarily transferred to the ownership of the Federal Property Management Agency by Khotin himself.
As for the further fate of the confiscated objects, according to lawyers, after the completion of all legal procedures, they are likely to be put up for sale.
The market value of the hotel and shopping center can range from 25 to 35 billion rubles. At the same time, Four Seasons Hotel Moscow itself with 180 rooms, IBC Real Estate director Mikael Ghazaryan estimates at $220-250 million (19.5-22 billion rubles).
NF Group partner Stanislav Bibik called both objects unique and predicted high interest in them from investors if they are put up for auction. At the same time, Nikoliers specialist Denis Platov drew attention to a number of minuses of Fashion Season, including a lack of natural light and layout flaws.[1]
2022: Renamed Legend of Moscow
The Four Seasons Hotel near the Kremlin in July 2022 was renamed Legend of Moscow. Four Seasons suspended the provision of management services for its hotels in Moscow and St. Petersburg after the start of Russia's military special operation in Ukraine.
1992
Year: 1990-1992]]
1949
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