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Moscow: Ambitious hotel plans puzzle

Horeca

The site of the former Hotel Intourist being cleared, in preparation for the building of the planned $120 million Hilton Red Square. In a move that has had hospitality industry analysts scratching their heads, the Moscow city government has announced ambitious plans to double hotel capacity by 2005.

While the number of visitors to Moscow has grown dramatically over the last decade, the number of hotels has not grown correspondingly to meet this demand. Experts blame the stagnation on bureaucratic hurdles, the difficulties of finding a land site, and the attractiveness of other real estate sectors.

While the number of visitors to Moscow has grown dramatically over the last decade, the number of hotels has not grown correspondingly to meet this demand. Experts blame the stagnation on bureaucratic hurdles, the difficulties of finding a land site, and the attractiveness of other real estate sectors.

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