Moscow authorities have announced plans to sell their 50% stake in the "Radisson SAS Slavyanskaya" hotel. The shares of the hotel and its managing company "Slavyanskaya" will be auctioned in the framework of medium-term privatization of property plan over 2011-2013.

The approximate price of the facilities is some 8 billion rubles. No timing or auction spots have been announced yet.

The "Radisson SAS Slavyanskaya" began operation back in 1991. It occupies 3.8 hectares on the Berezhkovskaya embankment in downtown Moscow. It has 410 rooms, 4 restaurants, a shopping mall, and a business center.

Moscow city now owns 50% of the hotel, the rest is owned by two businessmen, God Nisanov and Zarakh Iliev.
The spokesman for the two businessmen confirmed that they would participate in the auction and if they will, they plan to raise the rating of the hotel which is now four-stars.

Earlier Moscow city authorities announced plans to sell off non-core assets. Since the end of August they have sold the "Metropol" hotel for 8.874 billion rubles, as well as its stake in the World Trade Center for 1.448 billion rubles.