RussiaIC
Friday, 11 December 2009
The first quarter of 2010 may become the least profitable for the Moscow hotels, say experts. The price on a cheapest room in a good hotel is likely to halve and is not expected to exceed 3000 rubles – the six-year low. The beginning of the year has never been moneymaking for the hotel business. The major part (about 90%) of hotel guests are the people coming to Moscow on business, but had to move from expensive apartments to cheaper ones, since their companies cut expenses over the crisis. As a result, the first quarter of 2010 may show the worst figures for the past six years.
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