JSC Hotel Novoslobodskaya, a fully-owned subsidiary of Russian real estate firm Open Investments (OPIN), has raised its stake in Moscow's Hotel Novoslobodskaya from 69% to 100%. The property, which is located in Moscow's city centre, was sold at an auction organised by the City Government for an undisclosed amount. The property comprises 255-rooms, and is managed by the Accor hotel group under the Novotel brand. The hotel was opened in September 2002 and has an average hotel occupancy rate of 75%.
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