How the hotel business in Russia originated and developed

In early 2009, in Russia, the hotel business was under the blow of a financial crisis, which led to some slowdown in this area. At the same time, analysts expect a significant growth of this market no earlier than 2012, after increasing activity in office and trade real estate markets. However, for the sake of justice it is worth noting that the hotel sector suffered just less than other real estate segments in Russia, in the capital, in particular.

To date, in the hotel sector, some revival can be noted – it is planned to build some frozen projects, as well as the construction of new hotel complexes. So, in the capital in 2010, 22 hotels were opened, which increased the total number of Moscow number by 2316 rooms.

Moscow hotels, which began their work in 2010, are either mini hotels or hotels 3, 4, or 5 stars. It can be noted that the main increase was observed just in the segment of five -star hotels. So, in 2010, three five -star hotels appeared in Moscow – Renaissance Moscow Monarch Center, Radisson Royal Hote, Lotte Hotel Moscove.

At the beginning of 2011 in the capital, there are 274 hotels with a room fund of 72.2 thousand seats. At the same time, 36% of Moscow hotels are three -star.

The largest number of hotels can be observed in the Central Administration. In the center of Moscow there are most (almost all) five -star hotels of the capital and the main part of the four -star.

The second place in the number of hotels is occupied by NAO, and most of the hotels are located in the VVC area. But Zao and Zelao cannot boast of a large number of hotels – these areas occupy the last place in the number of hotels in Moscow. Moreover, the largest hotel, Kassado Plaza, opened in the North -Western Council, opened only in September 2010.

Throughout 2010, it was possible to observe a gradual, but stable increase in Moscow hotel loading indicators. Thus, the average annual load of 4-, 5 -star hotels reached 56%, for three -star hotels this figure is 48%, for two -star – 58%. Compared to 2009, the total loading of Moscow hotels increased by 10 percent.

If we talk about the cost of living in Moscow hotels, then during the first three quarters of the past year, the prices for numbers remained practically unchanged. But at the beginning of the fourth quarter there was a tendency to increase the cost of hotel rooms. To date, the average price for the standard room in Moscow hotels is: for 5* hotels – 15448 rubles per day, for 2* – 3112 r. Those who want to stay in luxury class rooms can count on prices from 5253 rubles per day for hotels 2* to 48854 r. for hotels 5*.

Also in 2010, we can note a growing interest in the Russian hotel business from international hotel operators. In 2011, in the capital it is planned to open hotels under the control of international networks such as InterContinental Hotels Group, Marriott International. However, I must say that large international operators became interested in the hotel market not only in Moscow, but also of other cities of our country.

One of the most intensively developing areas in the field of hotel business in Moscow is the development of small hotels and a rather new service in our market – daily rental of apartments. So 13 objects of 22 hotels, opened in 2010, include the mini-hotel segment, and rent an apartment for a day in large cities, can already be in accordance with all European standards.

In 2010, $ 94 million was invested in the Moscow hotel business – this is only 6%of the total investment in commercial real estate. Moreover, 69%were allocated for the development of office real estate, or $ 1.16 billion. However, these numbers will be able to change soon. Among the main factors stimulating the development of the hotel business in Moscow, one can note the Olympics in Sochi in 2014, as well as the World Cup in 2018. It is clear that Russia’s preparation for such important events will require not only reconstruction and construction of stadiums, but also investments in infrastructure for receiving the country’s guests, including special attention will have to be paid to the hotel business.

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