Posted 3/14/2013 - 8:16:09 AM
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MOSCOW—The number of international brand hotel rooms in Russia is expected to more than double by 2018, according to a report issued this week by KPMG.
From 21,885 rooms in late-2012, the count is expected to grow to 47,534 rooms over the next five years.
Last year, eight new international brand hotels opened in Russia with an additional 27 in the pipeline.
Moscow and St. Petersburg continue to offer the most hotels in Russia, though Sochi, site of the 2014 Winter Olympics, is expected to contribute significantly to future supply.
