2009-05-25
The total revenue of the hotel market is projected to decrease by 10-15 % in the first half of 2009, as stated in a report published by AZIMUT Hotels Company. Moscow itself represents 40% of that market.
The report focuses of the main trends of 2008. Among those were the following: the considerable increase in the interest of foreign investors in Russian hotel business, the increasing development of international hotels in other Russian cities apart from Moscow and St. Petersburg, and the growing number of hotels opened as part of multifunctional complexes. Another important trend in 2008 was the growing number of international hotel brands of the mid-range category. In particular, the international chain Domina Hotels Group has announced about its plans to enter that very segment of the Russian market. The financial crisis has forced significant amendments in the development of the hotel sector. Many hotel construction projects have been frozen, and still are. Hotels have cut their marketing budgets, specifically advertising and industry trade show budgets. In Russia, unlike in many European countries, the crisis has not affected the occupancy levels, which, in many respects, is closely linked to the deficiency of hotel rooms. In 2008 the activity of Russian hotels chains was considerably lower than that of the international operators. During this period only a small number of projects has been completed. Among the Russian brands only AZIMUT Hotel Chain, Amaks, Intourist and Heliopark position their hotels as chain hotels, and truly function as such. In mid 2008 Russia had about 265 hotels which belonged to chains (2 and more hotels under one company). Russian experts have not projected any fundamental changes in the hotel market in the near future.
Prepared horecaguru.lt using special-edition.ru source
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