Even though the current economic climate is creating uncertainty in relation to the potential economic growth of some countries, another 194 hotels with a total room stock of nearly 37,300 units are due to open in the region by 2020 according to the pipeline of international hotel chains.
Based on our interviews conducted within the frame of the survey with the representatives of major hotel chains in Russia and the CIS, there has been no considerable drop-off in investor interest towards the hotel market, who plan to continue implementation of already started projects, despite adverse geopolitical and economic conditions. However we believe that projects on early stage of development may be frozen and initiation of new construction may be put on hold until the situation stabilizes.
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