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What's going to happens with the hotel construction boom in Russia?
Friday, 21st March 2014
Source : TOPHOTELPROJECTS
 

A huge target market could be in danger: penalties of the EU and the USA could become a large obstacle for the hotel construction projects in Russia, currently 108 hotel projects are in the pipeline.

Especially for the FIFA World Cup 2018 (8th June until 8th July) further hotels especially mid-class hotels have to be build. 

In the eleven venue cities in Russia, thereof Moscow, St. Petersburg, Kaliningrad and Volgograd, new train station, airports, shopping malls, office buildings, hospitals and hotels are arising. Therefore also existing residential buildings will be transformed into hotels, this is the plan.

“We are especially interested in the future of the about 40 hotel projects in Russia by the large US hotel chains such as Hilton Worldwide, Hyatt International, InterContinental Hotels Group, Marriott International, Starwood Hotels & Resorts. The Wyndham Hotel Group will keep an eye of the about 40 hotel projects. Our hotel market analysts will keep an eye too on this situation”, said Rolf W. Schmidt, CEO of TOPHOTELPROJECTS.

The economic effects of the Crimea crisis could also harm the tourism. New restrictions in term of visa allocations for overnight stay guests from Russia would hit among others Turkey and Germany.

Germany is on third place of the most important holiday destinations behind Turkey (place 1) and the Ukraine (Crimea region, place 2). Nine percent of all foreign trips of Russians were to Germany in 2012 – that was 2.3 million travels.

In 2012 the Russians undertook 27.2 million foreign trips in total, thereof 72 percent as a holiday trip and 16 percent were business tips (4.2 million). 87 percent (23.7 million) of these trips were longer than four nights, shorter trips of one to three night were 13 percent (3.4 million).

The largest number of visas were given by Finland (1.3 million). In Germany the number of visa allocations for Russian guests was a bit more than 397,000.

Further information: www.tophotelprojects.com

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