By the end of 2015, Russia is projected to open 5,519 rooms, while Poland and Ukraine are projected to open 1,654 rooms and Ukraine 274 rooms, respectively. Additionally, in 2016 and 2017, Russia is expected to open an additional 46 hotels with more than 10,000 rooms.
LONDON — Russia, Poland and Ukraine are expected to increase their room supply by adding 18 percent (32,700 rooms) on top of their existing supply, increasing room supply across Eastern Europe, according to data from STR Global’s June pipeline report. These three countries combined will account for 46 percent of Eastern Europe’s future room supply.
The current room supply in Eastern Europe is heavily dominated by Russia (103,000 rooms), followed by Bulgaria (62,000 rooms), Czech Republic (58,000 rooms) and Poland (56,000 rooms). By the end of 2014, Russia is expected to open 4,355 rooms, while Ukraine and Poland expect to open1,004 rooms and 817 rooms, respectively.
By the end of 2015, Russia is projected to open 5,519 rooms, while Poland and Ukraine are projected to open 1,654 rooms and Ukraine 274 rooms, respectively. Additionally, in 2016 and 2017, Russia is expected to open an additional 46 hotels with more than 10,000 rooms.
Since 2008, Russia had a compound annual growth rate of 4.8 percent and reported the highest supply growth across Eastern Europe. Coming from a lower room supply, Ukraine has a projected CAGR (through 2016) of 4.1 percent.
Eastern Europe is showing a CAGR of 2.5 percent from 2012 until 2017. The Upper Upscale class has the highest growth rate (+18 percent) among the chain-scale segments. The Upscale class has the highest share of rooms Under Contract (72 properties with 12,000 rooms). Only 10 percent of rooms Under Contract are assigned to the Midscale and Economy classes, which make up 37 percent of existing supply in Eastern Europe.
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
