According to the data from the company IBC Real Estate, the performance indicators of four- and five-star hotels in St. Petersburg reached peak values for the past three years during the summer period of 2023.
The average room price in five-star hotels in the Northern capital in June of this year exceeded 24,000 rubles, showing an increase of almost 30% compared to the previous year’s figure, becoming the highest value in the last three years. In four-star hotels, the indicator for June was almost 8,000 rubles, showing a year-on-year growth of 9%. The average occupancy rate for the month in four-star hotels in St. Petersburg exceeded 80% for the first time in three years, reaching 82.5% in July. In the same period in 2022, it was at 72.5%, i.e., 10% lower. Five-star properties also set a record for the past three years, reaching 78.3%, compared to 70.7% the year before, almost 8% lower.
The average room revenue increased over the summer in both four- and five-star hotels. In five-star hotels, the indicator in June exceeded 19,000 rubles. In May of this year, it was more than twice as low, and compared to 2021 and 2022, it increased by 63% and 37%, respectively. For four-star hotels, June also set a record – for the first time in three years, the average room revenue exceeded 6,000 rubles, increasing by 28% compared to the same period last year.
The main reason for these records is the development of domestic tourism. Guests from other regions successfully compensate for the decline in inbound tourism and become the main consumers of accommodation services in hotels. Thus, by the end of 2022, St. Petersburg ranked fifth among the most popular tourist destinations in Russia. And in the first half of 2023, over 4 million people visited the Northern capital, which exceeded the figure for the same period in 2022 by 6%.
