After the fire of 1812, this place remained empty for a long time. Later, Theater Square was arranged according to O. Bove's project. In 1838, merchant P.I. Chelychev acquired the plot on preferential terms. Until 1898, there were "Chelychi" here, which housed an inn, a half-brewery, baths, a snack bar, and small workshops.

In 1898, Savva Mamontov decided to create a new public and cultural center here. Despite the results of the competition, he chose the project of young architect V.F. Valkot, who named his daughter Pol in honor of "Metropol." The construction involved Korovin, Vrubel, Polenov, engineer Chokolov, and architect Kekushev.

The "Metropol" building is impressive: its roof is covered with a glass dome, light walls alternate with glass bay windows, and the first floor is adorned with granite arches. Although the hotel stands out against the backdrop of the square, the arched vaults of the facade resonate with the Small Theater, and the towers on the roof continue the line started by Tretyakovsky Passage and picked up by Kitay-Gorod and the Historical Museum. A ribbon of bas-reliefs by Andreev titled "Seasons" runs along the two main facades. Above the windows of the third floor is a mosaic quote from Nietzsche. The facades are decorated with 23 mosaic panels, the largest of which, "Princess of Dreams" by Vrubel, is located on the facade of Theater Passage. Five large panels by Golovin are positioned at the corners of the building, while the authors of the small panels are unknown. The balcony grille was designed by M.M. Peretyatkovich.

In 1901, when the exterior finishing of the building was nearing completion, a fire occurred in "Metropol." The bas-reliefs and panels survived, but Mamontov, under investigation, could not afford expensive construction. Kekushev saved "Metropol" by proposing a more economical project. By 1903, it housed a hotel, 10 shops, 11 restaurant halls for dance evenings, exhibitions, and masquerades, as well as a two-hall cinema "Modern."

The new project for the main restaurant, replacing the theater hall, was developed by A.E. Erikhson. A cement fountain was installed in the center.

From 1986 to 1991, "Metropol" was closed for restoration.

In November 1917, "Metropol" was seized. Under the new authority, it became the Second House of Soviets. The quote from Nietzsche was replaced with Lenin's words: "Only the dictatorship of the proletariat can free humanity from oppression." The People's Commissariat for Foreign Affairs and apartments for party figures such as Antonov-Ovseenko, Bukharin, Voikov, Kon, and others, as well as writers, were located here. In 1918, Mandelstam lived in room 253. R. Ivnev, who lived in room 438, recalled the constant hustle and the cheeky staff. A cinema and a café for imagists called "Kalosha" were opened here.

In 1951, a dinner in honor of Mao Zedong was held in the Red Hall of "Metropol," attended by Stalin. In the early 1960s, John Kennedy was received here.

Today, it is a five-star hotel.