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Only 156 Hotels in Russia Are Currently Managed by Foreign Operators

Olga Shirokova, a partner at NF Group, stated that the number of hotel rooms managed by foreign operators in Russia has decreased by almost a third since the beginning of 2022, to 30,000.

“As of April 2024, there are 17 international operators in Russia, managing 156 hotels with a total of 30,000 rooms,” she said, noting that in April 2022, there were 44,000 rooms under their management.

Ekaterina Nogai, Head of Research and Analytics at IBC Real Estate, reminded that Hyatt, InterContinental, Marriott, CPI Hotels, Belmond, Sokos Hotels, Four Seasons Hotels and Resorts, BWH, and Wyndham have left Russia. In Moscow, the reduction in the share of quality room stock managed by foreign operators has been twofold—from over 80% in 2022 (more than 20,000 rooms) to 40% by the end of the first quarter of 2024. The remaining hotel stock previously managed by foreign chains in Russia has shifted to Russian operators or local management.

According to Ms. Shirokova, the partial departure of U.S. and European hotel chains from Russia not only stimulated the development of local players but also attracted other foreign operators to the Russian market. For example, the Middle Eastern chain Rotana Hotels took over management of two former IHG hotels.

“In addition, we expect new international players to enter the market: Dusit International (Thailand) and River Rock Hotels & Resorts (Turkey),” the expert shared.

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