Luxury accommodation chain Fairmont Hotels & Resorts has purchased a property in Moscow, Russia – the historic Hotel Pekin – which will become the first Fairmont-branded hotel in the city, reports the Moscow Times.
As part of the acquisition, real estate developer Hals-Development will oversee a massive renovation of the iconic building, which includes constructing a business tower to add 950 square meters of conference and meeting space, a fitness center and 98 more guest rooms.
Guests will also be able to enjoy a selection of dining options, and the guest rooms – a total of 236 – will include the company’s Fairmont Gold treatment, which provides personalized service, a relaxed residential-style lounge and an assortment of in-room amenities.
The planning stage will last until December 2013, at which point the hotel will close for construction, reopening by 2017 under its new name: Fairmont Pekin Moscow. The renovations are expected to cost more than $100 million.
Built in the 1940s, the centrally-located Hotel Pekin is a protected historical building in the Russian capital, sitting at the corner of Garden Ring and Triumfainaya Square.