Russian hotels post 30% increase in revenue in 2023

MOSCOW. Jan 10 (Interfax) - A higher interest in domestic tourism and the relatively stable economic situation have had a positive effect on Russian hotels, which posted a 30% increase in the average revenue per room in 2023, the press service for the Russian Union of Travel Industry (RUTI) said with reference to the Bnovo hotel management service.

"Last year, hotels saw an increase in average revenue per room RevPar, which helps estimate the sales efficiency in hotels. Over the year, the maximum RevPar values rose by almost 30%, from 1,700 to 2,200 rubles. The longer tourist season until September-November also led to hoteliers earning more," the report said.

According to the service, the cost of accommodation was the highest in Altai (6,650 rubles), Karelia (6,000 rubles) and Adygea (5,900 rubles), while the largest increase in the average cost of accommodation was seen in Kabardino-Balkaria (68%), Karelia (31%) and Karachayevo-Cherkessia (16%).