Russian billionaire Mikhail Gutseriyev and his nephew Mikhail Shishkhanov, president of B&N Bank bought four property parcels that include two Moscow hotels from Bidzina Ivanishvili’s Unicor Management Co. last week for US$982.5 million.
The hotels include the former Tsentralnaya Hotel, which the Moscow-based Unicor was planning to renovate with Mandarin Oriental Hotel Group into the Mandarin Oriental Moscow, and the recently opened InterContinental Moscow Tverskaya.
Gutseriyev is behind the recently announced US$2.8 billion theme park resort in Moscow under development with the involvement of Universal Parks & Resorts.