Support The Moscow Times!

Alrosa Selling Hotel Division

Diamond monopoly Alrosa is selling a subsidiary company with hotels in several Russian cities.

The starting price for 100 percent of the stock in Alrosa Hotels is 834.2 million rubles ($29.7 million). Bids for the chain will be accepted until Sept. 15, Alrosa said last week.

Alrosa Hotels has facilities in Moscow, Yakutsk, Mirny, Arkhangelsk and St. Petersburg (under reconstruction), a retirement home in Anapa and the cruise ship Mikhail Svetlov.

According to the SPARK-Interfax database, the company’s sales revenues dropped to 287 million rubles in 2009 from 352 million in 2008. 

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more