Horwath HTL, Russia and Hungary have released a special market report on Sochi, that looks at the incredible development over last five years and the implications for sustainable tourism. The report, written by Managing Director Marius Gomola, MRICS, has the title "Sochi's Tourism Industry the Overall Gold Medal Favourite of the 2014 Sochi Winter Olympics in Russia" and is part of a series of special market reports written by Horwath HTL, the worlds largest and most experienced hotel and hospitality Brand.

The report shows that while many external issues about the Olympics have served to

muddy the waters and taken focus away from the development, by the time the doors open 9,000 new hotel rooms will have opened. Many of these new hotels are operated under international or regional brands, with a mix of franchise and management agreements. While this is a huge number, there are a number of reasons why this can be the foundation of a strong tourism industry;
  • Sochi is a unique destination as it has two genuine peak seasons. Many resorts claim to offer both beach and ski facilities, but the Mountains are only 45 minutes from Sochi city centre, and the new direct rail means the roads no longer are an issue.
  • Sochi has 280 million potential customers from Russia and CIS who will embrace a resort that has no language or cultural difficulties.
  • With airlift being a key component, the privately owned airport can accommodate double the current capacity.

Marius Gomola MRICS said, "The report presents a tremendous opportunity, but one

that is not without risks. Sochi has all of the ingredients for success. Because of the Olympics and Formula 1, it is an incredibly well known destination and brand that has two peak seasons. What is lacking at the moment however, is a comprehensive and co- ordinated strategy as to how they will fill the rooms post games. The bottom line is that they need a dedicated destination-marketing organisation, which will sell and promote Sochi, as it is the travel agents and tour operators that need to deliver the guests. If they can create that, and keep the focus of the Federal Government to complete the destination after the torch has gone, then Sochi will be truly on the map."

The report can be accessed here

About Horwath HTL

Horwath HTL is focused one hundred percent on hospitality, tourism, and leisure consulting. Our services cover every aspect of hotel real estate investment, tourism, and leisure development. Our clients choose Horwath HTL because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each client project is unique, and they rely on us to utilize the experience we have gained throughout our 100-year history to assist them in achieving their goals. Being a global firm with 52 offices in 40 countries, we have successfully carried out over 40,000 assignments for both public and private clients. As part of the Crowe Global network, a top-ten accounting, and financial services network, Horwath HTL is the number one choice for companies and financial institutions looking to invest and develop in the industry.

For more information, please visit www.horwathhtl.com.

James Chappell
Global Business Director
Horwath