Moscow retains optimistic outlook for hotels

“Domestic tourism reached an all-time high this summer,” said Tatiana Veller, the head of JLL hotels and hospitality group, Russia & CIS. The hotel market as a whole showed an almost 10 pct y-o-y increase in occupancy level, to 74 pct, resulting in a 9 pct growth in RevPAR. “The biggest winner was the luxury segment, capturing mainly international travelers who upgraded from lower level hotels, taking advantage of the weak ruble and thus dropping rates in hard currency denomination. Even b