86 hotel construction projects in the pipeline, several hotel construction projects on hold, Ruble devaluation causes cost cutting.
Despite the economic and monetary crisis Russia bets on an increasing number of guests: until the FIFA World Cup 2018 (14th June till 15th July) investments for new top hotels are needed.
Currently 86 new hotels and resorts with 16,600 rooms are under construction or in development in Russia. Further 23 hotel projects are planned but currently on hold. This announced TOPHOTELPROJECTS, the worldwide leading provider for global b2b hotel data.
Selected hotel construction projects in Russia:
- Fairmont Pekin Hotel - Moscow - 236 rooms " opening: early 2018 (image below)
- Hyatt Regency Petrovsky Park - Moscow - 297 rooms - late 2016
- Radisson Blu Riverside Hotel - Moscow - 220 rooms - early 2018
- Four Points by Sheraton Vnukovo Airport - Moscow - 250 rooms - mid 2016
- aloft - St. Petersburg - 200 rooms - late 2017
- Jumeirah - St. Petersburg - 74 rooms - early 2017
(Source: TOPHOTELPROJECTS)
The Russian metropolis Rostov on Don is extending its infrastructure for the FIFA World Cup. A dozen of projects are planned. The most expansive one is the airport Yuzhnyi Khab.
Meanwhile Yekatarinburg announced the extension of the stadium access road and is looking forward to the opening of the four star Dreamworks Hotel (410 rooms) in 2018.
Vadim Prasov, Vice President of the Federation of Restaurateurs and Hoteliers in Russia evaluates the currently situation in the Russian hotel industry as adequate, which is necessary as several fairs and congresses causes a high demand.
And where will the soccer team train? Recently the Russian sports minister Vitali Mutko confirmed signed contracts to build or rebuild 50 training grounds in 20 cities with. In total the World Cup teams should choose between 64 training camps.
As the worth of the ruble is dropped, the cost of the World Cup buildings increased. But the sports ministry will not spend more money.
Background: Lots of the contracts were closed in US dollars. Considering the weak ruble the commissioners have additional charges. Therefore, according to an official statement, an “adjustment to the current economic situation” is necessary. That means that local components are preferred and expensive extras are prohibited.
Due to the economic crisis in Russia the budgets for the construction of stadiums and the infrastructure are shortened by ten percent. This affects also the training grounds: instead of the planned four training groups, every World Cup site will only get three, which induces a saving effect of 700 million rubles (12.2 million Euros).
TOPHOTELPROJECTS collects and evaluates data about all hotel construction projects and hotel chains worldwide in an online database and provides its subscribers with a comprehensive overview of all major hotel projects, refurbishments and extensions worldwide. The online database currently holds over 5,000 live and confirmed projects and more than 1,800 hotel brands.
Further information:
www.tophotelprojects.com
