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Sergei Sobyanin approved a program to support the creation of new hotels

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Investors who build new hotels or adapt existing buildings to hotels can apply for city benefits.

As part of the program of creation of workplace associated infrastructure, the Moscow Government will provide benefits for land payments to investors who build new hotels.

At the same time, projects must meet a number of conditions, for example, the total area of the object cannot be less than 3,000 sq. m.

For the placement of hotels, Moscow will provide non-residential facilities owned by the city. The initial rental rate will be determined based on the results of the auction; the lease term will be 20 years.

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