Investments in Russia’s hotel property exceed $600m

Investments in Russia’s hotel property exceed $600m
Tags: Photo source:

Since the beginning of 2016, the volume of investments in Russia’s hotel property totaled $627 million, CBRE consulting group reports on Wednesday.

Whereas this figure was $ 34 million in the same period in 2015. The growth was mainly caused by the sale of a mountain ski resort, “Gorky Gorod”, in Krasnaya Polyana in the first half of the year 2016.

“We are observing a high interest on the part of investors to the hotel segment of Russia over the course of the last two years. The reason for such demand is a relative stability of these assets and a potential of cost recovery following ruble’s devaluation,” CBRE experts explain.

At the same time, the experts point out that it is German, British and French hotel property that attracts most profound interest among investors.