OREANDA-NEWS. On 20 June 2008 was announced, that Singaporean Raffles Hotels&Resorts is to open a de luxe hotel in the Saltykov brothers’ mansion in a 3-minute walk from Moscow’s Red Square.

The hotel under the Raffles Hotels&Resorts brand will become a part of Chizhevskoe Podvorye mixed-use complex invested and developed by ALT Corporation.

The hotel is to be located in a 17th-century building of the Saltykov brothers’ mansion that will be reconstructed and realigned according to the investment contract between ALT Corporation and Moscow City Hall.

“Raffles Moscow is to contain 130 rooms, 6 restaurants and bars and a spa. The investments will exceed \\$200 million of internal funds and loan proceeds,” an employee of ALT Corporation said.