Corinthia to Add Moscow Property to Portfolio

Main Photo: The Corinthia Moscow..the property has a listed façade and houses the 19th-century Filippov Bakery.

Date: February 2019

Location: 10 Tverskaya, Moscow’s principal avenue leading onto the Kremlin and Red Square, Russia

Name:  Corinthia Hotel & Residences – opening 2021

No. of Keys: 54 suites plus Residences

Seller: Ivan Maximovich Filippov the famous baker, who created the complex of its bakeries here and trading house with a bakery and coffee shop acquired the property that previously belonged to a noble Saltykov’s family in the middle of the XIX century.

His upscale products and ingenuity were known all over Moscow. Muscovites retold each other rumours and legends, the most famous of which was the story of a cockroach-filed bun served to Governor-General Zakrevsky. The result of the story was the invention of the famous Filippov’s raisin bun.

His successor, Dmitry Ivanovich, radically rebuilt an old building, giving it an eclectic pompous look in 1891-1897.

Changes did not end there – the entire building was overbuilt with additional floors in 1907, and architect N.A. Eichenwald rebuilt the hotel lobby in the left half of the complex in 1911.

One of the most luxurious hotels in the city – “Lux” appeared along with the trading house.

Also the famous Filippovskaya café house was known for its rich interiors created by P.P. Konchalovsky, S.T. Konenkov and V.M. Mayat. Many big shots of the time stayed in the “luxury” rooms: well-known writers, including Velimir Khlebnikov, the friend of the host, Dmitri Ivanovich Filippov.

Heirs of the famous baker lost the shop after the revolution, but the actual bakery remained in place. The main part of the building become the hostel of the NKVD in 1919 and then it was the dormitory of the Communist International, abbreviated – the Comintern in the 1920s.

Many of the leaders of the world communist movement, the leaders of the pro-Soviet parties and underground organizations stayed here during their visits to Moscow. Bulgarian Georgi Dimitrov, Czech K. Gottwald, P. Togliatti Italian, French M. Torez were among them. In 1934, the building received another add-in and later became the hotel “Central”.

Today the building is under restoration. Former Filippovka bakery shops located in the yard were destroyed along with other subsidiary buildings.

The consortium acquired the building from a private Russian entity.

Owner: HI PLC, owner of the Corinthia Hotels Group, is set to build a new Corinthia Hotel & Residences Moscow. IHI is acquiring a minority share in a company being formed with a consortium of investors to acquire a landmark property at 10 Tverskaya.

The property has a listed façade and houses the 19th-century Filippov Bakery, but permits allow up to 462,800 square feet of development behind the retained frontage.

The consortium is planning to create a luxury Corinthia Hotel and branded serviced apartments. The property is expected to include high-end retail facilities as well.

IHI has had a presence in Russia since 2002, when the company acquired (and later redeveloped) five historic properties on the main boulevard in St. Petersburg, where the company now owns the Corinthia Hotel St. Petersburg, the Nevskij Plaza Retail and Commercial Center as well as other commercial property.

“We are very pleased to announce our second hotel and residences in the Russian Federation,” Corinthia CEO Simon Naudi said in a statement.

With the Moscow hotel, Corinthia will have luxury properties in both the political capital of Russia as well as Russia’s cultural capital. “Our Moscow project will consolidate our brand’s positioning at the top end of the Russian luxury hotel market,” Naudi added.

Corinthia is currently redeveloping the Grand Hotel du Boulevard in Bucharest (opening in 2020), and the landmark Grand Hotel Astoria in Brussels (opening in 2021), as well as a new luxury beach resort under construction by the Meydan Group in Dubai, to be known as the Corinthia at Meydan Beach, due to open in 2019.

THPT Comment: Corinthia are clearly on a mission to save beautiful olde grande-dame buildings, taking in London, Bucharest, Brussels and now Moscow…good on them!

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