The Moscow Times (from AP) 30 August 2012
Michael Jackson slept there. Vladimir Lenin harangued Bolsheviks there. Over the past century, the Hotel Metropol has seen the extremes of Russian life, from austere revolutionary fervor to flashy pop indulgence.
The hotel was sold Thursday for $275 million — slightly more expensive than the starting price of $272 million — after an auction organized by the Moscow city government as part of its privatization program.
The buyer was Azimut, a major hotel chain that rented the Metropol from the Moscow city government, Russian media reported.
Moscow, with a perpetual shortage of hotel rooms and a business culture that adores ostentation, is an attractive market for high-end hoteliers and the Metropol offers plenty of curb-flash.
Situated catty-corner from the Bolshoi Theater and an easy stroll from Red Square, the location is prime for any guest who wants to feel in the very center of the city’s heaving action.