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.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

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