Are there any billionaires left in Russia? The last year has been pretty brutal on Russia's upper crust, and we haven't seen a whole lot of they guys who used to drop cash like it was vodka. Art Moscow, the largest art fair in Russia, opens tonight, and gallery owners are artists are hoping the likes of Roman Abramovich will see fit to plunk down some roubles on canvas.

Art Moscow features works from 40 galleries – both from Russia and around the world. Originally, the art fair was supposed to run in May, but Expo Park Exhibition Projects Ltd., its organizer, pushed it back to hit at the same time as the state run Third Moscow Biennale of Contemporary Art. The dual event may bring a bigger turnout, but it will have to overcome a 10 percent contraction in the Russian economy.

Counting against Art Moscow ... aside from general economic malaise ... is the fact that the sale of Russian artwork is down. The major auction houses in London moved only $48 million in Russian art in June, down more than half from the same auctions in 2008.

So, how likely is a stream of cash? Igor Markin, a big-time collector and owner of the Art4.ru museum, says he "hasn't bought anything in a long time."

The historic Hotel Ukraina, a city landmark in Moscow, Russia, is about to reopen as the Radisson Blu Royal Hotel. The property will have undergone a substantial renovation and its new look and feel is sure to impress.

The property will offer 507 guestrooms, along with 38 serviced apartments. The rooms will be 345 square feet in size, and the apartments will be quite large – from 540 square feet to 2,750 square feet. All rooms and apartments will be equipped with high-speed internet access.

What really makes the reopening interesting, though, is the connection between old and new. The property's art collection will be featured, consisting of nearly 1,000 paintings from the socialist realism school of thought, the "official" movement of the Soviet Union for more than six decades. Murals and ceiling frescoes will be restored and on display through the hotel's public spaces.

To enhance the experience, the hotel will feature a 43,000 square foot spa and wellness center, with a Turkish bath, Finnish sauna and six-lane swimming pool. There will also be a dedicated kids' club, giving parents some much-needed time to relax. After unwinding, dash up to the 31st floor bar and enjoy the views of Moscow. For another perspective on the city, you'll be able to take a culinary boat tour on the Moskva River.

"This hotel is another milestone in our history," says Kurt Ritter, President & CEO of Rezidor, which owns the property. "Rezidor, the international pioneer on the Russian hotel market, is today the leading international hotel operator in Russia and the CIS countries – and now manages an additional key property in Moscow, which is one of the most remarkable hotel structures in Europe."