Experts called the top cities of Russia, attractive for the hotel business
St. Petersburg, Moscow, Sochi, Kazan and Rostov-on-Don topped the rating of the most attractive cities for the hotel business in Russia.
In a study by Cushman & Wakefield, it is reported that St. Petersburg became the leader of the updated ranking of the top 20 cities in which leading hotel operators show the greatest interest, shifting Moscow, with 9.5 points, to second place. The top five also included Sochi, Kazan and Rostov-on-Don.
The survey among the largest Russian and international players in the hotel business was conducted at the end of 2021. Respondents appreciated the attractiveness of cities for opening hotels in their network. Each city was given points from 1 to 10.
All cities in the top five received an average of 8 to 10 points. The composition of the three remained the same from last year, but Moscow and St. Petersburg changed places.
Additional factors that increase the attractiveness of St. Petersburg are the growth of the flow of foreign tourists after the opening of the borders.
At the same time, among the declared and under construction hotels in Moscow, almost half of the room stock fell on the upper price segment. In St. Petersburg, it occupies no more than 1%.
The survey also found that two-thirds of hotel operators see funding difficulties as the main reason for canceling or delaying new projects. The period for which everything is postponed is estimated at six months or a year.
The vast majority of respondents (73%) expect the return of rooms to the level of 2019 in 2023 – both in Moscow and in the regions.
Source: atorus