H1 2023 | Moscow | Hotel Market
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H1 2023 | Moscow | Hotel Market
01 августа 2023
The demand for hotel accommodation in Moscow started bouncing back after the last year’s crisis. Already now the domestic tourist flow in Moscow for the first five months of 2023 exceeds the last year’s figure by 31.3%. New projects continue to be announced and opened amid burgeoning demand. In the first six months of 2023 two new hotel facilities hit the Moscow market: Radisson Blu Leninsky and Azimut City Hotel Comcity. It is expected that by the end of this year 471 rooms will have entered the Moscow hotel market.
The average daily rate (ADR) went up in all of the hotel categories in Q2 2023. Occupancy of the capital city’s hotels also showed positive trends. According to the results of Q2 2023, the most dynamic occupancy growth was recorded in the upper upscale segment – 62.8% (+18.8 p.p.). As a result, PevPAR showed a 40-60% growth depending on the hotel category, as compared to the same period last year.
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