The Slovakian company “J&T Group” purchased 75% of the shares for Moscow “Balchug Kempinski Hotel”  of the company "Balchug".  

 

Patrik Tkac (“J&T Group” partner) noticed that the hotel was a real bargain, because it wasn't not merely a hotel, but a "legend, part of the Moscow history".

 

The renovation will start in the end of this year and will last for approximately 3 years. The hotel will cater to guests during the reconstruction.

 

After the reconstruction the hotel is expected to be estimated to $5 billion.