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Hotels in Russia - February 2013

Over the past decade, Russia’s two main cities of Moscow and St Petersburg have been the chief target of the international chains that have entered these markets mainly with their luxury and upscale brands. Now Russia’s hotel development is becoming more broad-based as midscale and budget brands make their appearance and the tide of expansion is spreading to secondary cities and resort locations. This report looks at the present situation for hotels and development in Russia. Hotel performance in the country is still largely lagging behind pre-financial-crisis highs, and while occupancies have bounced back, rates remain under pressure.

In general, the greatest development potential is for budget and midscale hotels in the major cities. In Sochi, Russia’s premier resort destination, there is a lack of five-star and luxury accommodation. Although Moscow is by far the country’s leading hotel market, it should continue to be the single most important region for hotel development; meanwhile, little new capacity is currently planned for St Petersburg. Otherwise, the aforementioned Sochi, the site of the 2014 Winter Olympics, is set for a massive increase in capacity. Of Russia’s major cities, St Petersburg is the only one to attract significant leisure tourism – virtually all provincial cities, with the exception of Sochi, are essentially business-traveller destinations.

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Table of contents

  1. Introduction

    • Data Sources

      • Overview

        • Demographic trends
          • Figure 1: Trend in Russia’s population, 1995-2100
        • Population ageing
          • Figure 2: Trend in the age segmentation of the Russian population, 2011 and 2050
        • Economy and currency
          • Figure 3: Economic aggregates for Russia, 2010-17
        • Outlook for spending on travel and tourism
          • Figure 4: Outlook for travel & tourism-related spending in Russia, 2011-17
        • Arrivals and overnights
          • Figure 5: Incoming tourist arrivals, by region/selected country, 2006-10
      • Market Size, Trends and Performance

          • Figure 6: Trend in the number of transient accommodation establishments* in Russia, 2005-16
          • Figure 7: Hotel performance for Russia and Moscow year-to-date September 2012 & September 2011
        • Historical performance by major urban market
          • Figure 8: Trend in occupancy, ADR & RevPAR in the principal urban hotel markets in Russia, 2007-11
          • Figure 9: Moscow hotel market performance, 12 months to end-November 2011 and 2012
      • Major Hotel Markets in Russia

          • Figure 9: Major hotel markets in order of branded room capacity, 2011
        • Moscow
          • Competition heating up due to new supply
            • A shortening booking window
              • High season in spring and autumn
                • Booking moving online
                  • Moscow hotels increasing leisure share
                    • Occupancy has recovered but rates remain low
                      • Developments in 2012
                        • New hotels in 2012 and 2013
                          • An active transactions market but limited foreign interest
                            • St Petersburg
                              • A business-traveller market with a strong leisure component
                                • Future demand drivers
                                  • Supply growth
                                    • Chain penetration
                                      • Competition increasing
                                        • Yekaterinburg
                                          • Mainly a business-traveller market
                                            • Sochi
                                              • Massive increases in hotel capacity
                                                • Lack of five-star supply
                                                  • Hotel prices capped for Olympics
                                                    • Kazan
                                                      • Samara
                                                        • Rostov-on-Don
                                                        • Hotel Value Trends

                                                            • Figure 10: Trend in Russian hotel values by major city, 2007-17
                                                        • Chain Penetration

                                                            • Figure 11: Russian hotel chain market shares (ranked by number of operating hotel properties), 2008-11
                                                        • Hotel Chain Profiles

                                                            • Accor
                                                              • Figure 12: Accor’s Russian hotel portfolio, 2013
                                                            • Amaks Hotels & Resorts
                                                              • Figure 13: Amaks’ hotel portfolio by location, 2013
                                                            • Azimut Hotels
                                                              • Differences between hotels in Russia and Europe
                                                                • Figure 14: Azimut’s Russian hotel portfolio, 2013
                                                              • Moscow and St Petersburg properties
                                                                • Growth outlook
                                                                  • Best Western debuts in Russia
                                                                    • Figure 15: Heliopark’s hotel portfolio, 2013
                                                                    • Figure 16: Hilton’s Russian portfolio by brand & city, 2012
                                                                    • Figure 17: Hilton’s Russian pipeline by brand & city, 2012
                                                                  • Hyatt Hotels & Resorts
                                                                    • Three in pipeline
                                                                      • InterContinental Hotels Group
                                                                        • IHG plans for 100 hotels in Russia and CIS by 2020
                                                                          • An IHG Academy for Moscow
                                                                            • InterContinental returns to Russia
                                                                              • Interstate
                                                                                • Russian portfolio
                                                                                  • Sochi pipeline
                                                                                    • Intourist Hotel Group
                                                                                      • Hotel portfolio
                                                                                        • Hotel Cosmos
                                                                                          • Kempinski
                                                                                            • Hotel Nikol’skaya Kempinski Moscow
                                                                                              • Figure 18: Marriott’s Russian hotel portfolio, 2013
                                                                                            • Marriott to grow Russian portfolio by 50% by 2015
                                                                                              • Figure 19: Marriott’s Russian pipeline, 2013
                                                                                            • Three hotels for Sochi
                                                                                              • A first Marriot hotel for Voronezh
                                                                                                • Rezidor
                                                                                                  • Figure 20: Carlson Rezidor’s Russian hotel portfolio, October 2012
                                                                                                • Rezidor opens Radisson Blu Resort & Congress Centre, Sochi
                                                                                                  • An active pipeline
                                                                                                    • Figure 21: Carlson Rezidor’s Russian hotel development pipeline, 26 September 2012
                                                                                                  • Starwood Hotels & Resorts
                                                                                                    • Swissôtel expanding in Russia
                                                                                                      • A hotel for Kazan too
                                                                                                      • Management Contracts in Russia and the CIS

                                                                                                          • Profit guarantees not common practice
                                                                                                            • Non-disturbance the norm
                                                                                                            • What Next?

                                                                                                                • Massive hotel expansion planned for Moscow
                                                                                                                  • Accommodation providers for 2018 FIFA World Cup
                                                                                                                    • Figure 22: Accommodation requirements by city for 2018 FIFA World Cup, 2012
                                                                                                                  • Vladivostok gaming complex to target Chinese
                                                                                                                    • Minimum investment of US$2 billion
                                                                                                                      • Ten-day visa-free travel

                                                                                                                      Hotels in Russia - February 2013

                                                                                                                      US $377.39 (Excl.Tax)