The boycott in the west also brings the Russian hospitality industry in distress, while the domestic economy turns out to be robust, increasingly important MICE customers (conference guests) leave missing.

This is the result of a recent market study by TOPHOTELPROJECTS, the worldwide leading provider of global b2b data. Of the current 100 hotel construction projects in Russia a few are on trial.

Although the internationally renowned hotel designer Peter Joehnk (JOI-Design) continues to expect new hotel development projects in Russia, he currently envisages long delays at two own planning hotels or even the cancellation of some project.

The prospects for the business travel market is currently poor: embargo and punitive tariffs are taking effect. Several top hotels by large hotel chains consequently have a massive reduction in sales factor.

In contrast, Walter C. Neumann, CEO of the Russian hotel chain Azimut emphasizes optimistic.

The number of Russian (patron) guests is high and lies at Azimut Hotels in the international metropolises Moscow and St. Petersburg between 65 and 70 percent and other Russian destinations at more than 90 percent. They want to ad here to all planned hotel projects.

Currently another business hotel by Azimut is arising in Moscow with 200 rooms; the opening should be early next year. "We continue with our expansion policy and will continue to invest in our new property openings in Vladivostok, Moscow, Samara and Vienna," says Neumann.

"The coming months will not be easy as lots MICE businesses broke away. Furthermore the number of Western tourists has decreased," says Neumann. Azimut is concentrating more on the domestic market as well as the CIS countries and China.

Further information: www.tophotelprojects.com