Developing and financing hotel projects in Moscow is a costly and lengthy process, but the Russian city is still a hot spot for investors.
Developing in Moscow is not without its challenges. Land is hard to come by in the city center and financing projects is a costly and lengthy process, but the Russian city is still a land of opportunities for developers.
After the Soviet Union collapsed in the 1990s, Moscow opened itself up to development, and global hotel brands heeded that call. Today, Hilton Worldwide, Marriott International, InterContinental Hotels Group, Interstate Hotels & Resorts, Carlson Rezidor Hotel Group, Accor, Hyatt Hotels Corporation and Starwood Hotels & Resorts Worldwide all have a presence in the Russian city.
“Moscow is important because it’s a key European capital,” said Darren Blanchard, senior director of business development for The Rezidor Hotel Group, which has five hotels in operation and three under development in Moscow. “And it’s the springboard to launch into the vast country. It would be difficult to develop elsewhere in Russia if you’re not in Moscow.”
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Consultez la source sur Veille info tourisme: Russie Moscou reste attractive malgré les défis