VTB sold its last hotel

VTB sold its last hotel.

Consensus

• VTB no longer owns the Holiday Inn Sokolniki hotel in Moscow.
• The sale occurred as part of a deal involving Gals-Development.
• This was VTB's last hotel asset.
• The transaction took place in June and exceeded 100 billion roubles.
• The market value of the hotel is estimated at 8–10 billion rubles.

Points of divergence

• VTB acquired the property after the merger with Bank of Moscow. — kommersant
• The sale included 100% of the assets of the REIT 'Developer Assets', which include legal entities from Gals-Development group. — vesti

Coverage (2 sources)

• VTB sold Moscow Holiday Inn hotel in Sokolniki — Коммерсантъ
• VTB sold its last hotel — Вести

Key entities

• VTB
• Moscow
• Gals Development
• RBC
• Holiday Inn Sokolniki
• Rusakovskoye Street
• Holiday Inn
• Sokolnichy VTB (MOEX: VTBR)