Return of MICE events to hotels, revitalization of domestic tourism, renewal of business activity allowed hotels to achieve almost 50% occupancy in September.
For the resulting 9 months of 2020, Moscow hotels’ occupancy is at 36% which is 42 p.p. (or 54%) lower than the respective period of 2019.
Over the first 3 quarters of 2020 ADR showed a 9% decrease compared to the same period of last year amounting to 6.8 thousand rubles. The only segment that keeps demonstrating ADR growth remains the luxury segment.
Average market RevPAR decline over the 9 months is 58%.
The first branded hotel since the beginning of 2020 opened in October - Movenpick Moscow Taganskaya (154 rooms).