The Izmailovo Gamma-Delta Hotel is an enormous complex offering budget-priced accommodation just a short metro ride from the center of the city. Built on the site of the historic Izmailovo Estate - where Peter the Great grew up - the hotel offers decent rooms and good facilities at very reasonable rates. Although not in the center of Moscow, the Izmailovo Gamma-Delta Hotel is only six stops by metro from Red Square. Next door is the famous Izmailovsky Market, which is a great source of souvenirs and traditional Russian gifts. The Izmailovo Hotel is an excellent choice for the more budget-conscious traveller.