Russia’s state-run hotels and resorts were forced to shut down from 28 March until 1 June in 2020 in response to confirmed coronavirus cases surpassing 1,000. Demand for lodging collapsed as inbound tourism stalled and regulations around movement within Russia undermined domestic travel.
When restrictions eased, the state acted swiftly to motivate citizens to holiday at home. The government began to lift the ban on domestic travel in June and allowed some Black Sea health resorts to reopen at the beginning of the month.
While Russian saw a slew of new hotels from international brands prior to the pandemic, planned openings of new hotels have been frozen and are likely to remain postponed for the early forecast period. While resort hotels on the Black Sea saw a few weeks of welcome activity during the summer as Russians released from lockdown and restrictions relaxed on local holidays, lodging needs inbound arrivals to pick up again before full recovery is possible.
Several property owners have shifted from short-term rentals to long-term leases since the coronavirus began to spread. Closed borders led to low demand which left many short-term rental properties empty and idle and motivated owners to change their approach.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Lodging industry in Russia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Lodging industry in Russia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Lodging research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page