Moscow has witnessed a significant surge in hotel development in 2024, with the volume of new construction in the hospitality segment doubling compared to the previous year, according to IBC Real Estate’s report on Wednesday.
“Since the beginning of 2024, five new hotels have opened in Moscow, adding a total of 633 rooms. This represents a twofold increase, or a 102% rise, compared to the previous year,” the report states.
Looking ahead, IBC Real Estate forecasts that Moscow’s hotel room capacity will grow by an additional 800 rooms in 2025. Among the upcoming openings are:
- Cosmos Selection Moscow Arbat (241 rooms),
- A hotel on Bolshoy Polyanka Lane (200 rooms),
- Property within the White Sea Business Center on Leningradsky Avenue (218 rooms),
- A hotel at the “Poklonnaya, 9” complex on Kutuzovsky Avenue (157 rooms).
The latter property initially planned to operate under the SO/Hotels & Resorts brand, has been transferred to the Russian operator ZONT Hotel Group following the suspension of Accor’s operations in Russia.
Transition to Local Operators
IBC Real Estate notes that four out of the five hotels opened in 2024 were originally intended to operate under international hotel brands such as Hilton, Accor, and Marriott. However, due to the suspension of these companies’ activities in Russia, the hotels transitioned to local management and opened under new names.
This development underscores a shift in Moscow’s hospitality industry, with local operators stepping in to manage properties that were previously part of global hotel chains.
