Sheraton to Open Hotel in Moscow: The...

Sheraton to Open Hotel in Moscow: The Sheraton Moscow, the first luxurious $140-a-night American hotel in the Soviet capital, will be built one mile from Red Square, Soviet and U.S. officials announced. Soviet Ambassador Yuri Dubinin, joined by executives from Sheraton, the Pan Am and Aeroflot airline companies and U.S. Commerce Secretary Robert A. Mosbacher, signed an agreement for joint construction of the hotel. Sheraton officials described the six-floor, 450-room hotel as unprecedented in the Soviet Union. It will cost $75 million to construct at 26 Gorky St., one mile from Red Square in the heart of Moscow, and is expected to be complete by 1992. The hotel is the first of two to be built in Moscow under the joint agreement, negotiated in Moscow and Washington over a period of 18 months.