Hotel business investments are growing
The growth of the domestic tourism market and state support measures stimulate investment activity in the hotel market. The number of relevant companies registered in Russia in the first quarter increased by almost 19% year by the year. The market growth will remain, but due to the high cost of projects and difficulties with the involvement of financing, business can reformat them.
The number of organizations registered in Russia providing hotel and sanatorium-resort services reached 40.3 thousand on April 1, increasing the year by 5.2%, calculated in the “Contour. Focus”. In January -March, 1.5 thousand new specialized companies were established. For a year by the year, the indicator added 18.7%. The number of hotels registered for the first quarter of the “Contour. Focus” increased by 17.4% year by year, to 1.4 thousand, campsites – almost one and a half times, up to 107 objects. Only sanatoriums showed a negative trend: over the year, the country has become 0.8% less specialized companies.
NF Group partner Olga Shirokova says that in 2024, 80 high -quality hotels and hotels with a total fund of 9 thousand rooms were handed over in Russia.
This corresponds to the record value of 2018. For the first quarter, according to the expert, 2 thousand new numbers were handed over. In 2025, it is planned to pass in a total of 820 new hotel rooms in Moscow, in St. Petersburg-1.5 thousand. This is doubled by the last year, says the head of the Strategic Consulting Group Oleg Germanenko. Such a pronounced correction is partially explained by the opening of one major project in St. Petersburg, SVET hotels for 802 rooms.
Olga Shirokova expects that in Russia as a whole, the input in 2025–2026 will be at the level of 10-12 thousand numbers, which means the annual increase in high -quality number of 7%. The CMWP partner Marina Merezhko expects that in 2025 at least 14 thousand numbers will pass. But this is only high -quality, separate hotels, small accommodation products are added here, she warns. At least 7 thousand numbers in Russia, according to the expert, should appear at the expense of the program for subsidizing modular hotels implemented last year.
Azimut Hotels CEO Maxim Brodovsky says that his network in 2024 increased the fund by 1.7 thousand numbers, now in the implementation stage of 2.5 thousand numbers. Alexander Biba, President of Cosmos Hotel Group, explains that over the past year the network number has grown by 3%. At the same time, the company signed agreements to manage 33 objects for more than 11 thousand numbers. “This will allow you to increase the fund without significant capital costs over the next three to five years,” he says.
Investment activity is growing in the context of an increase in the profitability of the hotel business.
According to Hotel Advisors, the average cost of a hotel room in Moscow and St. Petersburg in the first quarter increased by 16% of the year by the year. This, according to Oleg Hermanenko, led to an increase in the return on the number (Revpar indicator) by 8% and 17%, respectively. A positive trend can be traced, despite the fact that in Moscow the average loading of hotels per quarter decreased by 7% of the year, and in St. Petersburg added only 1%, the expert notes. Marina Merezhko says that operating profitability for Moscow hotels is now 35–45%, for resort – 25–35%, for regional – 25-30%.
Olga Shirokova connects the growth of business interest in the hotel market with the development of tourism and the implementation of state support measures. Among the latter, it gives subsidizing loan rates, tax benefits. Maxim Brodovsky explains that due to the high cost of loans, the market yield of many hotel projects exceeds ten years, but due to the preferential rate, the value can be reduced to eight years. Measures are mainly aimed at supporting large businesses. “In the regions, the main group of investors are large players, investment or industrial corporations,” says Mr. Biba.
Marina Merezhko notes the growth of the interest of investors, including the development of new hotel projects. But the general economic factors can restrain the pace of implementation, according to Oleg Hermanenko, an increase in the cost of lending, building materials. Madam Merezhko notes that capital hotels require billions of investments. “Financing construction, interest on the investment stage, a loan maintenance and the cover of gaps in the first years can cost up to 30–40% of the amount of all investments,” she explains. This forces investors to reformat projects – apartments appear, the share of infrastructure for recreation and entertainment is reduced.
