04 March

Moscow has become a leader in Europe in hotel occupancy

Moscow has become a leader in Europe in hotel occupancy

In January 2021, Moscow hotels were loaded by 43.6% – this is the highest indicator among European markets, as follows from the data of Cushman & Wakefield. Baku is in second place (26%), St. Petersburg and Istanbul are in third place (24%).

The top ten also includes Tallinn (15.7%), Manchester (14.2%), Tel Aviv (13.8%), Belgrade (13.6%), Madrid (13.5%) and Sofia (12.9%).

Moscow has been the leader in hotel occupancy in Europe since November 2020: then hotels were filled by 39%, Istanbul was in second place (37.3%). In December, the gap between the Russian capital became even greater – 43.3% versus 26.3% for hotels in Istanbul.

For comparison: in Warsaw, Vienna, Prague, Budapest and Bratislava, the decrease was from 88% to 95% - hotels in these cities were filled minimally. For example, in Bratislava, guests booked only 2.4% of rooms, in Budapest – 4.1%, in Prague – 4.2%. The same cities were among the outsiders in terms of profitability per number (according to the RevPAR indicator): Bratislava ($1.54), Prague ($2.45), Warsaw ($3.35), Vienna ($4.15). Tel Aviv hotels have also lost seriously in profitability.

The figures from the report of the company "Cushman & Wakefield" regarding the occupancy rate of Moscow hotels are confirmed by other consulting firms, as well as by the hoteliers themselves.

The capital's hotel industry can recover faster due to the low level of restrictions caused by the spread of the coronavirus epidemic. At the same time, hoteliers note a slow recovery in revenue. This is caused by a decrease in the average cost of living. It is also necessary to take into account the additional costs of measures related to countering the spread of coronavirus.

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