Tourism Industry News
Openings Could Fracture Upscale Hotel Market
Moscow’s hotel market has experienced a spate of openings over the last six to eight months. From large-scale internationally branded hotels to smaller locally operated establishments, the top end of the city’s hotel industry is facing increased competition from growing supply.
And despite ongoing financial difficulties, numerous openings remain in the hotel pipeline. All this could contribute to a fracturing of the city’s upscale segment.
Most recently, the Hotel Ukraina opened as a Radisson Royal after a three-year renovation. Following an official ceremony on April 28 with the city’s Mayor, Yury Luzhkov, the hotel will take bookings from June 1. The new Radisson Royal will add 505 rooms and 38 apartments to the city’s current stock of about 8,000 top category rooms, according to data from GVA Sawyer.
Get the full story at: Moscow Times