Due to high demand in 2023, the hotel industry managed to regain lost ground after a decline in the previous three years. The business is balancing to maintain profitability, experts predict tariff stabilization in the second half of 2024 and a shortage of high-quality room stock in the long term.
Hotels in Moscow. Financial indicators
The average occupancy of all hotels in Moscow from January to December 2023, according to Hotel Advisors (a sample of the IBC Real Estate consulting company), was:
- 74 % (+ 13 points year-on-year);
- 53 % — luxury segment (+ 21 points year-on-year);
- 78 % is the mid—price segment (+ 10 points).
