ITT Sheraton Corp. and Pan Am announce plans for hotels in Moscow.

PR Newswire | October 24, 1989 | Copyright

ITT SHERATON AND PAN AM ANNOUNCE PLANS FOR HOTELS IN MOSCOW

WASHINGTON, Oct. 24 /PRNewswire/ -- ITT Sheraton and Pan American World Airways today announced plans for the development of hotels in Moscow, the first to be completed in 1992 at an estimated cost of $75 million.

The hotels will be developed and owned by a joint venture comprised of ITT Sheraton, Pan Am, Mossoviet (the governing body of the city of Moscow), and Aeroflot (the Soviet Airline). ITT Sheraton is the first American hotel group to enter into such an agreement with Soviet ...

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