Russia Catches Up With Luxury Hotels

Hamburg -- Demand is high: Russia continuous to build new first class and luxury hotels. Currently there are 159 hotel projects with a total of 49,000 rooms on their way. This makes Russia the third largest hotel construction and development market in Europe. Top of the hotel project charts is Germany with 282 first class and luxury hotel construction and development projects, followed in second place by the United Kingdom with 187 new top hotels. These are the findings of study by TOPHOTELPROJECTS, the leading market research service for hotel project data around the world.

In Eastern Europe new large hotel projects make headway. 196 four- and five-star hotels are currently under construction or in the concrete planning phase in Russia, Belarus, Ukraine, Lithuania, Latvia and Estonia with total of more than 62,000 rooms. These hotel projects are split into 130 four-star rated properties (approx. 47,000 rooms) and 65 luxury hotels (approx. 14,900 rooms). "142 hotel projects are under current construction in the Eastern Europe are under construction" says Christian Berke, Intl. Sales & Marketing at TOPHOTELPROJECTS. 23 of these projects are in the preliminary planning phase, 30 projects are delayed in respect to their initially set opening date.

For comparison: In the rest of Europe hotel professionals are currently speaking about 1,411 hotel construction and development projects with 343,000 rooms. 1,132 of these projects are first class rated (280,000 rooms) and 297 considered to be luxury (62,000 rooms). 1,148 hotels are under construction, 157 are in the preliminary planning phase, and 106 are delayed in respect to their initially set opening date.

Top 10 top hotel projects in Europe (first class & luxury hotels)
1 – Germany – 282
2 – United Kingdom – 186
3 – Russia – 159
4 – Spain – 125
5 – Switzerland – 118
6 – Italy – 110
7 – Austria – 89
8 – France – 84
9 – Portugal – 50
10 – Turkey – 50
(Source: www.tophotelprojects.com)