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Russia, CIS, Georgia markets

Russia, CIS, Georgia markets
Tatiana Veller, Managing Director of the Moscow office of HVS, has announced the release of the 2013 Russia, CIS and Georgia Hotel Valuation Index.

MOSKOVA -Tatiana Veller, Managing Director of the Moscow office of HVS, has announced the release of the 2013 Russia, CIS and Georgia Hotel Valuation Index. This publication presents historical and forecasted value trends across 14 markets in Russia, the Commonwealth of Independent States, and Georgia, giving operators, investors and owners a clearer view of the region from a valuation perspective.

According to the HVI, the recovery pace of the hotel markets in Russia, the CIS and Georgia has slightly improved to a 1% growth rate across the region in 2013, as compared to a 1% decrease in 2012, with 8 of 14 markets showing positive growth figures this year.

“The HVI also shows that despite the pressure on average rates, the growth of value in Saint-Petersburg luxury and upscale segments will be one of the strongest in the region,” Veller explains. Per key values reached approximately 267,000 Euro in Saint Petersburg in 2013.

Moscow’s luxury and upscale segment values are set to decrease for the first time since 2010, which is mainly a result of continuing pressure on average rates.

Fuelled by increasing travel volumes in Russia, CIS and Georgia along with several major sports events taking place in the region, demand for quality hotel accommodation will increase. With many international chains penetrating the region in the next few years, HVS Moscow expects most markets to absorb coming supply and allow hotel values to grow. Expected compound annual growth rate in 2014-2018 is 6.4% across the region, with 5 markets out of 14 forecasted to be higher than 8% within the next 5 years.

For the first time, this year’s edition of the Russia, CIS and Georgia HVI introduces the Volatility Index of hotel values over the past six years (2007-2013). This measure allows investors to understand the overall risks associated with hotel investments (higher volatility implies higher risks).

“Half of the markets we cover (7 out of 14) have exhibited a volatility index exceeding 23%,” says Alexey Korobkin, HVS Moscow Associate Director and co-author of the HVI. “By comparison, only 5 out of 32 European markets which are covered in our European HVI, exhibit volatility of more than 23%.” Click here to read the entire 2013 Russia, CIS and Georgia Hotel Valuation Index.

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