More Tourists Less Hotels in Moscow
The Ritz-Carlton Moscow threw open its neo-imperial doors near the Kremlin last week. The cheapest room for the summer tourist season is US$1036 ($1324) with tax.
That rate reflects how Moscow hotel openings are lagging behind room demand fuelled by soaring tourism, exports and investor interest in the world’s largest energy producer.
“I can’t spend more than US$200 a night, so I ended up a 15-minute bus ride beyond the southern end of a subway line,” said Peter Beck, Korea director for International Crisis Group, after arriving from Seoul. “When a Russian looked at the address of my hotel, he said, ‘Don’t go out at night.”‘
Little relief is in sight for business travellers. While the number of visitors to Moscow hit 3.8 million last year, up from 300,000 in 1991, wrecking crews have demolished four Soviet-era hotels in the past five years, wiping out 5000 hotel rooms within a 10-minute walk of Red Square. Read more