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SpeakersSEE ALL »
Vice President Development – Turkey, Russia and Eastern Europe, Hilton Worldwide
Head of Hospitality Department, A.N.D. Corporation
President, DT-Global Business Consulting GmbH
Chairman & CEO, Moroccan Agency for Tourism Development (SMIT)
Head of Development Russia, Ukraine, Georgia & CIS, AccorHotels
Partner, Hospitality Industry Leader in the CIS, EY
Partner, Head of European Hotel & Leisure Practice, Dentons
Senior Director, Acquisitions & Development, Russia, CIS & Baltics, Starwood Hotels & Resorts Worldwide Inc.
Managing Partner, Alliance Hotel Management
Vice President Business Development Russia, CIS & Baltics, The Rezidor Hotel Group
Co-Founding Partner, VIY Management LLP
Chief Executive Officer, Regional Hotel Chain LLC
Managing Director, Akfen REIT
Chief Executive Officer, Osnova Group
Independent Hotel Advisor
Associate Vice President Operations and Development Russia & CIS, IHG
Director of Business Development, STR
Chairman, Bench Events, Board Director, STR
Development Director - Russia & CIS, Hilton Worldwide
Hospitality and Leisure Partner, Berwin Leighton Paisner LLP
National Director, Head of Hotel & Hospitality Group Russia & CIS, JLL
Managing Director, Horwath HTL Hungary & Russia
12 May 2011
Russia remains upbeat as fastest growing region in CEE
According to a recent survey by DT Global Business Consulting, there is a growing sense of confidence that 2011 will prove to be a steady to good year for business in Russia. That said, despite sales getting back to 2008 levels for some companies, most executives agree and accept that the boom, glory days of easy money in 2007?08 have probably gone forever. Russia stands out as the fastest growth market in the CEE region above Turkey and Poland.
When asked what their medium?term CEE priority markets are (executives could select three): 80% of regional managers chose Russia; 50% selected Poland; and 37% picked Turkey. Ukraine, Romania and Czech Republic followed. When asked in which markets they expect to hire staff in 2011, the responses were: 67% Russia; 41% Poland; 35% Turkey; and 30% Ukraine.
The report also concluded that while the construction industry along with real estate was savaged in 2009, by the end of 2010 there were the first reports of recovery to sustained levels of 4?9% growth. Michael O’Hare, Managing Director of Horwath HTL Russia & Hungary, specialists in these markets echoed an increasingly positive outlook "The first quarter of 2011 has proven to be interesting as investors seek to revisit projects that have been dormant over the last few years in addition to exploring new opportunities in the hotel sector - this is a clear sign that confidence has returned to the market - however, the real catalyst for development growth will be banking institutions willingness to lend to this sector."
The Russia and CIS Hotel investment conference taking place in Moscow in October, will bring together investors, developers and operators specifically interested in these regions to examine the current state of the markets, identify the hotspots for growth and provide solutions for raising finance for new and current projects.
With the approach of the Winter Olympics in Sochi 2014 projects are on the move with several deals from Interstate and Hilton underway at last year’s Russia and CIS Hotel Investment Conference. IFK Hotel Management, as an official representative of Golden Tulip Hospitality Group in Russia and The Rosa Khutor Ski Resort Development Company, have also just signed a management agreement for two newly-built hotels located in Krasnaya Polyana village, close to Sochi – the host city.
Tulip Inn Rosa Khutor 3* is scheduled to open in time for the new ski season in December 2011. This is the first hotel for the Golden Tulip Hospitality Group in the Russian market. Situated in the heart of the resort Golden Tulip Rosa Khutor 4* hotel is also expected to open in 2012. The hotel will provide excellent location for skiers and guests of the Winter Olympics 2014.
Says Philippe Brisbois, IFK Hotel Management CEO “With the signing of the management agreement with The Rosa Khutor Ski Resort Development Company and launching new international brands recognized by millions of travelers worldwide we start a new chapter in the Russian hotel market”.
The Russia and CIS Hotel Investment Conference will take place at the Radisson Royal Hotel, Moscow, 17-19 October 2011. Registration is now open, for further information visit www.russia-cisconference.com
Notes to Editors:
Press enquiries contact Grant Collier, +44(0)208 668 0218. email@example.com
RHIC is organised by Bench Events and Questex Media
Sponsors of RHIC
RHIC is sponsored by Jones Lang LaSalle Hotels, Carlson, Corinthia Hotels, Horwath HTL Russia & Hungary, The Rezidor Hotel Group, Accor, Azimut Hotels, Best Western, Cushman and Wakefield, Deloitte, DLA Piper, Hilton Worldwide, Hyatt International, IHG, Marriott International, Orient-Express Hotels, Salans, Starwood Hotels & Resorts Worldwide Inc, WATG.
About Bench Events
Bench Events has a long track record in co-hosting the premier hotel investment events in Europe and the Middle East. Bench Events’ Chairman, Jonathan Worsley, is one of the organisers and founders of the highly successful International Hotel Investment Forum now in its fourteenth year (www.berlinconference.com). In 2005, he was responsible for launching the Arabian Hotel Investment Conference in Dubai (www.arabianconference.com); in 2008 launched the Russia & CIS Hotel Investment Conference (www.russia-cisconference.com). In 2011 Bench Events co-hosted the Central Asia and Turkey Hotel Investment Conference (www.cathic.com), and will launch Hotel Investment Conference Africa, in Morocco (www.africa-conference.com).
Bench Events’ sister company, JW Bench, is a benchmarking company that has successfully launched the Conference Bench and the Productivity Bench. An industry first, the Conference Bench, measures performance data for conference and banqueting space in 10 cities throughout Europe and the Middle East. www.benchevents.com
About Questex Media
The Travel + Hospitality Group (TravelandHospitalityGroup.com) – Questex Media LLC
The Travel + Hospitality Group delivers integrated products and intuitive solutions to drive demand as the largest multimedia organization in the world dedicated to the travel and hospitality industries. It represents a collaborative collection of tactical services consisting of robust online solutions, events and industry-leading publications. Within The Travel Division, the Travel + Hospitality Group will reach audience members through a variety of digital, print and event services. These include up-to-the-minute online portals travelagentcentral.com, luxuryta.com; print publications Luxury Travel Advisor and Travel Agent; cutting-edge educational sites tauniv.com and luxurytravelu.com; live networking events Luxury Travel Expo, Caribbean Meeting and Incentive Travel Exchange, Incentive Travel Exchange, Europe Meeting & Incentive Travel Exchange and Hawaii Travel Exchange; and on the online luxury booking system fivestaralliance.com.