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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.
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/