Russia and CIS Hotel Industry Update – The Rise of International Operators

The activity of international hotel operators in Russia has risen exponentially during the past three years – in fact the number of hotels in Russia has been on an upward trajectory since the mid-2000s, with hotel room capacity more-than tripling.
By: IQPC
 
March 1, 2013 - PRLog -- The activity of international hotel operators in Russia has risen exponentially during the past three years – in fact the number of hotels in Russia has been on an upward trajectory since the mid-2000s, with hotel room capacity more-than tripling since 2006.  International operators are actively exploring the Russian market and working to meet growing demand, announcing more than 15 new projects annually.

The latest statistics show a significant acceleration of the professional hotel property market in Russia, which had comparatively slow beginnings in the 1990s.  For the first 15 years of international operators’ presence in Russia, only 7,500 rooms were put into service, according to Knight Frank’s International Hotel Operators’ Activity Review released last year.

A handful of big international players currently dominate the Russian hotel market, and interestingly there is a growth in the number of independent hotels becoming part of these brands. The market stranglehold is clear – four operators each control more than 10 hotels in the country – and only five operators control hotels with a total room capacity of more than 1,000.

Download the full article here - http://www.hotelsummitrussia.com/Event.aspx?id=863306
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Tags:Hotels, Russia, Hotel Operator, Hotel Development, Hotel Construction
Industry:Construction, Real Estate
Location:England
Subject:Features
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