Saint-Petersburg hotel market

Inte
ationally the hotel market is considered to be one of the most profitable. St. Petersburg is seen as an open-air museum. In a word, Europe’s fourth most populous city is extremely attractive for tourist development. But in order for the tourism business to develop, it is necessary to improve the city’s infrastructure and in particular to create an efficient hotel industry.
St. Petersburg’s potential as a tourist destination in Europe – with the city’s world-famous Hermitage and its collection of art by world-renowned artists, Peterhof and its attending summer garden and fountains, the city’s draw bridges and canals, as well as the legendary White Nights in June – is exponentially attractive. However, as there are still very few quality hotels that meet inte
ational standards in the city, coupled with the overall unfavorable image the city suffers in the eyes of foreigners, the development of tourism in Russia’s northe
capital is in a state of inertia. However, it seems that perhaps the initiatives taken by the local gove
ment in this regard could alter the situation for the better, thus the number of tourists and the amount of large hotel projects could soon increase.

Inte
ationally the hotel market is considered to be one of the most profitable. St. Petersburg is seen as an open-air museum. In a word, Europe’s fourth most populous city is extremely attractive for tourist development. But in order for the tourism business to develop, it is necessary to improve the city’s infrastructure and in particular to create an efficient hotel industry.
St. Petersburg’s potential as a tourist destination in Europe – with the city’s world-famous Hermitage and its collection of art by world-renowned artists, Peterhof and its attending summer garden and fountains, the city’s draw bridges and canals, as well as the legendary White Nights in June – is exponentially attractive. However, as there are still very few quality hotels that meet inte
ational standards in the city, coupled with the overall unfavorable image the city suffers in the eyes of foreigners, the development of tourism in Russia’s northe
capital is in a state of inertia. However, it seems that perhaps the initiatives taken by the local gove
ment in this regard could alter the situation for the better, thus the number of tourists and the amount of large hotel projects could soon increase.

• Article “An overview of St. Petersburg’s hotel market”, «Commercial Real Estate», #5 (29) 01-31.05.2005, Anna Goncharova, p.21
• Article “Overview of the 3- to 5-Star Hotel Market in St. Petersburg”, «Commercial Real Estate», #1/2 (62) 1-31.01.2007, Olga Lobacheva, p.16
• Article “Motels in Russia”, «Commercial Real Estate», #3 (86) 1-15.02.2008, Julia Novoselova, p.19
• http://www.becar.ru/press2.php?mes=6255
• http://www.gvaconsulting.ru/rus/download/spb_hotels2006_1.pdf
• http://www.colliers.ru/analytics.xgi