The idea of the hotel project began in 1995, when the OAO Moskva Krasnye Holmy was established to develop a business complex called "Riverside Towers",[4] located on the eastern tip of the unnamed island in Zamoskvorechye. The shareholder of this joint stock company is ENKA Holding.[citation needed]
The hotel construction was designed by Russian architects TTA, with the participation of international architect firm Woods Bagot. For the interior design, the work of interior design company BBG-BBGM[5] was selected.