Hotel News

Moscow hotels experience a decline in Revpar and occupancy

During summer 2009, RevPar in Moscow hotels dropped by 30% compared to summer 2008, according to the DZT survey. The biggest decline was in the upscale segment of 5 star properties, where RevPar was down by 35%. The occupancy rate was also down, with upper midscale hotels having the highest rate - 61% full (in 2008 - 70.5%), while deluxe properties were only 52.2% occupied (in 2008 - 62%).

This is in line with statistics from the Moscow Tourism Committee, which states that during the first 9 months of 2009, there was 15% decline in the no. of foreign tourists visiting Moscow. According to the Tourism Committee, from Jan-Sept 2009, Moscow received 2,620,000 foreign visitors - compared to 3 million in the same period of 2008. The biggest decline was arrivals from Turkey and the UK - 35% and 43% respectively.

More International Hotel Chains to open in Russia (2010-2012)

A no. of international hotel chains will expand to the Russian market over the next 2 years. Hilton Worldwide has announced plans to open two properties in St-Petersburg in 2010-2013 under the Doubletree by Hilton and Hilton Garden Inn brands. Another Hilton Garden Inn will open in Samara by 2012.

Marriot International plans to open 6 new hotels in Russia over the next 2 years, with the Renaissance Moscow Monarch scheduled to open by the end of 2009. Another Renaissance will open in Krasnodar, and 4 new Courtyard properties are to be opened in Moscow, St-Petersburg, Kazan and Irkutsk over the next two years.

Lotte Hotel & Resorts will invest over $2000 million in the construction of a second hotel in Moscow in 2010, in addition to an opening in St-Petersburg in 2010, Starwood Hotels & Resorts will open a designer W Hotel, while Rezidor will open a Park Inn and is also choosing a site for a high-end Missoni brand property.