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Moscow retains optimistic outlook for hotels

Anna Pakulniewicz 06 October 2015
RUSSIA Moscow, a key tourist and business destination in Russia, has recorded an unparalleled increase in operational performance of most hotel segments.
“Domestic tourism reached an all-time high this summer,” said Tatiana Veller, the head of JLL hotels and hospitality group, Russia & CIS. The hotel market as a whole showed an almost 10 pct y-o-y increase in occupancy level, to 74 pct, resulting in a 9 pct growth in RevPAR. “The biggest winner was the luxury segment, capturing mainly international travelers who upgraded from lower level hotels, taking advantage of the weak ruble and thus dropping rates in hard currency denomination. Even by comparison to the previous 5-year average (2010-2014), the segment has shown a solid 5 pct gain in occupancy,” she added. At the same time, all other segments managed to sustain the profitability levels as well, while demand shifted heavily towards domestic and more price-sensitive tour group business segment. “We will most likely see continued strengthening of the Moscow’s hotel performance in ruble terms, as the year progresses. The 2015-16 business season in the coming 2-3 months should traditionally help the rates and occupancy. Refocusing of the economy on domestic market is bound to bring additional volumes of travelers to the city,” said Tatiana Veller.

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