Russia, The CIS and Georgia Hotel Valuation Index 2012
The hotel markets of Russia, the CIS & Georgia continue their recovery and exhibit a second consecutive year of growth. In this publication, HVS provides a guide though the peaks and troughs of the various markets, giving operators, investors and owners a clearer view of the region from a valuation perspective. Over the last 18-20 months, hotel markets in Russia, the CIS & Georgia have been recovering, with operating results improving from the crash of 2008/09. The initial fast pace of recovery in the first six months of 2011 has since slowed down, as the continuing crisis in Europe affected travel and spending patterns. Nonetheless, values in the region were still able to grow by 8% on average in 2011 and are forecast to grow by 3% in 2012. The region outperformed the European average in 2011, but will likely fall behind in 2012.
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