25% of the Intourist hotel operator have been put on sale by Moscow authority, the initial price was decreased to 990 m roubles ($16.5m). The announcement on the tender is published on the Moscow investment website, RIA-Realty reports.
The tender will take place on September 20th, 2017.
Moscow has tried to sell Intourist’s stake, however there were no those willing. In 2013 the Moscow authorities tried to sell the company’s blocking stake for 2.6 bln roubles, in 2015 – for 1.4 bln roubles.
To remins you, the Intourist company was founded in 1929. Presently the company owns and operates hotels with the total of 2,000 apartments, including Cosmos in Moscow, and hotels in Czech Republic, Italy and Namibia.