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Hoteliers in Talks

By The Moscow Times

Mikhail Shishkhanov is in talks with Georgian businessman Boris Ivanishvili to repurchase the InterContinental and Central Hotels, Vedomosti reported Friday.

Structures close to Bin Group co-owner Mikail Shishkhanov are interested in buying Boris Ivanishvili’s Unikor real estate portfolio, two sources close to both negotiators said. The talks, according to them, are at an early stage, there are no documents to be signed.

Unikor’s main assets are the 64,000-square-meter Summit business center, which includes the Hotel InterContinental Moscow Tverskaya (203 rooms) on the site of the Hotel Minsk, the 450,000-square-meter Garden Quarters residential complex under construction in Khamovniki and the Luxe Hotel (formerly the Central) with 18,300 square meters, for which a management agreement has been signed with the Mandarin Oriental chain.

(MT)

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