Forecast: Moscow hotels to add 13,000 rooms by 2018

12/26/2013 | World Property Channel

Jones Lang LaSalle predicts that Moscow will boost its hotel supply by 2018 with 13,000 additional rooms. Steady growth in hotel demand has managed to offset the market's supply growth over the last five years. "Essentially supply and demand are keeping pace with one another -- but at the expense of average rate -- which has dropped by 20% from 2008," said David Jenkins, head of Jones Lang LaSalle's Hotels & Hospitality Group in Russia and the Commonwealth of Independent States.

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